Today's schedule is more active with economic data overseas and in the United States.
The first big report that is likely to impact sentiment is China's October purchasing managers index, scheduled for overnight release. Economists forecast a reading of 50.2, up from 49.8 in September, indicating growth in the country's manufacturing sector. The news could especially affect copper, steel and coal stocks.
U.S. employment data begins at 7:30 a.m. ET with the monthly Challenger job-cut report. The number, which isn't followed by economists, came in at 33,816 last month. ADP's monthly index of private-sector employment follows at 8:15 a.m. ET and is expected to show a gain of 155,000 jobs. Weekly jobless claims follow 15 minutes later and are forecast to remain the same as last week's 369,000.
For Challenger and jobless claims, lower numbers are bullish and bigger numbers are positive. For ADP, the opposite is true.
Three more reports follow at 10 a.m. ET. The Institute for Supply Management's manufacturing index is the most important, and is expected to show a reading of 51 versus 51.5 in September. The Conference Board's gauge of consumer confidence is forecast to climb to 72.5 versus 70.3 one month earlier. The oldest and least important report is September construction spending from the Commerce Department.
Energy Department data on crude-oil and natural-gas inventories will follow at 10:30 a.m. ET.
Also before the market opens, pharmaceutical giant Pfizer will report third-quarter results.
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