The Beginning of the Week is in Full Swing

Today is June 2nd and it is now 1:50 AM in the morning and also the morning the ISM manufacturing survey will open up as the first piece of economic data for the month. The reason this data is so important is it provides information from purchasing managers on manufacturing activity from the previous month and thus provides clues to whether the economy is healthy or teetering on depression. In light of last week's GDP numbers, which were revised upward to 0.9%, a positive ISM reading at 50 or slightly higher will really give this market the ability it needs to get over the hump. You should expect relatively flat trading until these numbers are published.