Well this is the first day of the fourth quarter of 2012. I hope it’s a good one.
Wednesday we get the Presidential debate.
European stocks rallied after Spain passed two major hurdles last week when it proposed its 2013 budget and results from bank stress tests were in line with expectations.
A eurozone manufacturing report showed continued contraction, though the 46.1 figure for September was a six-month high. Any reading below 50 signals contraction. Unemployment remains worrisome, with the region’s unemployment rate coming in at a record high of 11.4% in August, unchanged from the previous month’s revised figure.
Euro stocks are up and Asian markets closed mixed.
GE is at a 52 week high.
1000 ET Sep ISM manufacturing index expected +0.2 to 48.8, Aug -0.2 to 49.6. Sep ISM prices-paid sub-index expected +1.8 to 55.8, Aug 54.0.
1000 ET Aug construction spending expected +0.5% m/m, July -0.9% m/m.
1100 ET USDA weekly grain export inspections.
1130 ET Weekly 3-mo and 6-mo T-bill auctions.
1230 ET Fed Chairman Ben Bernanke speaks on monetary policy in Indianapolis.
1600 ET USDA Crop Progress.