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ADP report, ISM services on calendar

Mike Yamamoto (mike.yamamoto@optionmonster.com)

Today's economic calendar kicks off the first of three days of labor-related data, culminating with the government's monthly Employment Situation Report at the end of the week.

The day begins with the weekly MBA mortgage applications at 7 a.m. ET. There are no forecasts for this report, which showed a 2.8 percent rise in the last reading.

The ADP Employment Report, which is often scrutinized for possible clues about the federal job report on Friday, will come out at 8:15 a.m. ET. The consensus expectation calls for a gain of 140,000 private-payroll positions in September, down from August's 201,000. Estimates range from 90,000 to 190,000.

The ISM non-manufacturing index for September is scheduled for 10 a.m. ET. The consensus expectation for the services report is a print of 53.5, down slightly from August's 53.7. Estimates range from 52.0 to 54.7.

The weekly EIA petroleum status report will be reported at 10:30 a.m. ET. The last reading showed a draw of -2.446 million barrels of crude oil.

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