Trading News

Today's economic calendar will focus primarily on the government's monthly employment data  and the ISM manufacturing report.

The non-farm payroll figures are scheduled for release at 8:30 a.m. ET, as are personal income and spending numbers. The consensus forecast for the employment report is 150,000 jobs, up from the previous reading of 115,000 and within an estimated range of 95,000 to 206,000.

The national unemployment rate is expected to remain unchanged at 8.1 percent. Estimates range from 8 percent to 8.2 percent.

Average hourly earnings are expected to rise from to 0.2 percent in May, within a range of 0.1 to 0.2 percent. Private payrolls are forecast to come in at 164,000, up from the previous 130,000 print and within a range of 100,000 to 209,000.

Personal income for April is forecast at 0.3 percent, off slightly from the previous reading of 0.4 percent. Estimates range from 0.1 percent to 0.4 percent.

Consumer spending for April is expected to come in at 0.3 percent, the same as the previous reading, within a range of 0.1 percent to 0.5 percent.

The ISM manufacturing index for May will be released at 10 a.m. ET. Analysts are expecting a decline to 54.0 for May from 54.8 in April, with estimates ranging from 51.0 to 54.5.

Construction spending for April is also scheduled for 10 a.m. ET. The consensus calls for a rise from to 0.4 percent from 0.1 percent in March, within a range of zero to 0.7 percent.

Closing out the calendar will be auto and truck sale figures for May. Auto sales are expected to come in at 5 million units, while truck sales are estimated at 6 million units.