The Week Ahead

The big news next week is the employment picture, which comes out on Friday.

On Monday we get ISM manufacturing and Construction spending. These are also very important. The Empire State and Philly Fed numbers were very weak last month. ISM should give us a clearer idea of where manufacturing is.

With construction spending, pay particular attention to non-residential. That has helped to keep this number from seriously crashing. However, with credit tightening this number may start to take a hit.