By Bryan McCormick
Today's economic calendar includes data from unemployment claims and purchasing managers.
Jobless Claims will be released at 8:30 a.m. ET. The consensus forecast calls for a drop to 420,000 claims from last week's 429,000. The range of expectations is narrow, from a bullish 410,000 to a bearish 435,000.
The Chicago Purchasing Managers Index will come out at 9:45 a.m. ET. The so-called headline number is expected to come in at 54, down from last month's 56.6. Estimates range from a bearish 49.5 to a bullish 59. A move below 50 would indicate contraction,
A third item is the release of the Bloomberg Comfort Index at 9:45 a.m. ET, which we have not previously covered. There is no forecast for this index, which is constructed from a weekly random survey. We are simply noting that it is getting more play as an indicator.