Tidbits
The Institute for Supply Management (ISM) manufacturing index, also known as the purchasing managers' index (PMI), is a monthly economic activity based on a survey of purchasing managers at manufacturing firms nationwide. It is considered to be a key indicator of the state of the economy. In the U.S., several organizations conduct a survey and report their PMI results.
The ISM PMI, which is announced on the first business day of each month, can greatly influence investor and business confidence because it is the only forward-looking economic indicator.
The ISM surveys collectively cover the overall U.S. economy whereas the S&P Global (a different organization and highly respected) survey covers approximately 70%, but provides a better guide to corporate performance due to its exclusion of government departments.
At 9:45 AM Eastern this morning, we get the S&P Global U.S. manufacturing PMI for November (48.8 expected) and at 10 AM, the November ISM PMI will be released (47.5 expected).