The Hang Seng was down 0.81% overnight and Australia was up 0.83%.
Japan was flat, but it goes its own way.
Europe is up almost a percent and a half while Globex S&P 500 is up 5 points. The claim is that European manufacturing data was better than expected.
The ADP employment change was announced 15 minutes ago, 8:15 EST, and was -473K worse than consensus estimate of -400K but better than the previous May reading of -485K which was revised to -532K.
Construction spending for May will be announced at 10 EST. April had a surprise increase of 0.8% and March was revised upward to 0.4%. The consensus estimate for May spending is -0.6%. If it is positive, that will be a nice surprise since construction is 7% of GDP.
The Institute for Supply Management Index is announced at 10 AM. RBC Capital Markets research shows that when this number is greater than 41, GDP turns positive 89% of the time within one quarter and 100% of the time within two quarters. May it was 42.8, below 50 is contraction, and expected to be 44.6 today.
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