Jerome Powell reading by the fire (AI image)
Happy Friday.
The market is in a bit of a lull today and that’s understandable given all the drama of November and that it’s the first trading day of the month. The event everyone is waiting for is coming at 11 am ET with Powell speaking in a fireside chat a Spelman College.
I would expect his comments to be very similar to Daly and Williams yesterday.
Before that, we get the final S&P Global US manufacturing PMI at 9:45 am ET. Then at 10 am ET, it’s October construction spending and November ISM manufacturing. The consensus in the later is 47.6 but I would expect an upside surprise after the latest regional data.
For more, see the economic calendar.