Today's Economic Data Docket - Chicago PMI, ADP And Factory Orders

Tyler Durden's picture

ADP, ISM-leading Chicago PMI, and factory orders. Very little risk of headline risk out of Europe which is doing all it can to preserve the last days of its vacation, confirmed even more by Italy slowly unwinding all components of its austerity plan.
8:15: ADP employment report (August): No strike impact. The ADP report measures the number of persons included in firms’ payroll processing systems during a given month, and does not collect information on whether they were actually working and/or paid. It is therefore unlikely to show an impact from the Verizon strike which occurred in early August, and could point to higher job growth than the BLS count of private payrolls reported Friday.
Consensus: +100k; Last +114k. MAP: 3
9:45: Chicago purchasing managers’ index (August). Likely drop. The Chicago purchasing managers’ index remains elevated compared to the other regional manufacturing surveys, and therefore looks likely to decline this month. Goldman forecasts that the index slipped to 52.0, from 58.8 previously.
GS: 52.0; Consensus: 53.3 with a range of 49.0 to 56.1; Last: 58.8. MAP: 4
10:00: Factory orders (July): Healthy gain. The already-released durable goods report suggests that total factory orders likely increased in July—Goldman forecasts a gain of 2.0% month-over-month. Revisions to durable goods shipments or news on inventories could affect the bean-count model of Q3 GDP growth.
GS: +2.0%; Consensus: +2.0%; Last -0.8%.
12:30: Atlanta Fed President Dennis Lockhart on the economy.

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Boilermaker's picture

So, if they are good it's bullish and if they're bad it means QE3 which is bullish.  Expect Lockhart to stop feigning resistance to more QE...kind-of....without really saying it directly....but <wink, nod, cough> you know.....

slaughterer's picture

We have noticed that the HFT algos have been trading--almost perfectly unimpeaded by human exchange involvement and news--on classic and Fibonacci pivots.  The next pivot on the ES is 1227.91.  If that breaks, we would have to run a whole new analysis of upsides.       

Mike2756's picture

Yah, they have to keep printing, got to drive the marginal shiplines out of business. (all marginal businesses)

DefiantSurf's picture

ADP report is jaded,  they include new business aquisitions in the count as increased payroll.



janus's picture

Mr. Durden,

if you get a moment, could you post the spreads?

much appreciated,


Cdad's picture


LOL!  Phil "the shill" Lebeau just got called out by someone on the price of GM shares.  His answer, "You want to go there?  We'll talk about it sometime." about now?

Since we all know that the story of future growth in the Auto sector has been part of the forward lie by the criminal banking syndicate, it was an especially sweet moment to see [or in my case hear] LeBeau called out.  As we all know there will be no joy joy coming from the auto sector.

F'n BlowHorn [CNBC].  Attention COMCAST:  credibility alert, alert alert.  Damage control!

DefiantSurf's picture

yeah, I'm sweating bullets on the the auto industry, my wife makes a good living working for an auto supplier, fortunately she is in the finance group so she will be the last to go when they file bankruptcy.



Cdad's picture

Also OT:

If you can read this story and not explode in the cranium area, then you are a dead American.  That these nanny staters, who by the way helped to destroy the authority of the classroom teacher, are now teaching kids to snitch and turn to the state, using classroom hours to define snitching vs telling, etc, etc.

Good lord, we are simply in ruins in this nation.

Cdad's picture


And yet another cranium melting headline.  Next up, State provided adult diapers.  

Dain Bramage's picture

ISM figs leaked at 9:42 as usual..gotta keep the HFT guys happy.

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