Factory Orders, Services Sector: What to Watch on Wall Street Jan. 6
For Tuesday, January 6th, we're keeping an eye on economic data including factory orders for November and ISM's non-manufacturing index.
This week is full of economic data. On Tuesday, traders will digest the Institute for Supply Management non-manufacturing number for December and factory orders for November, both will release at 10 am, eastern. The expectation is for a moderate to still strong ISM reading at 58. Equity traders will also keep close track of the commodities market. Crude oil managed to settle just above $50 dollar a barrel Monday after dipping below the psychological level during the session. The bond market will also be in focus as investors try to gauge the strength of the global economy. On the international front, traders are expecting the European Central Bank to start buying its sovereign debt in the first quarter of this year.
