Jerome Powell reading by the fire (AI image)
Happy Friday.
There’s a bit of a lull in the market today, which is understandable considering all the drama of November and today being the first trading day of the month. The highly anticipated event will take place at 11 a.m. ET, when Powell will speak at a fireside chat at Spelman College.
I expect his comments to be very similar to Daly and Williams yesterday.
Before that, the final S&P Global U.S. Manufacturing PMI will be released at 9:45 a.m. ET. And at 10 a.m. ET, October’s construction spending and November’s ISM manufacturing will begin. The consensus for the latter is 47.6, but we expect unexpected upside after the latest regional data.
See our economic calendar for more information.