7 a.m. — The weekly mortgage applications survey is expected. Last week, the Mortgage Bankers Association reported the volume of mortgage applications filed in the U.S. increased a seasonally adjusted 2.1% from the previous week on a jump in purchasing activity.
8:15 a.m. — ADP National Employment Report is due for November. The private sector count is considered something of a sneak peak of the big Friday jobs report. Consensus is for a gain of 70,000 private sector jobs. Last time, private-sector employment rose by 43,000 in October topping economists’ expectations, and presaging a strong government report later that week.
10 a.m. — ISM Manufacturing index for November. The headline index is expected to stay flat — but in positive territory — at 56.9. Any number over 50 indicates expansion. The Institute for Supply Management’s index of overall manufacturing activity, based on surveys of purchasing managers, rose to 56.9 in October from 54.4 the month before.
2 p.m. — Federal Reserve Beige Book report on regional economic activity is released. “This week’s publication of the Beige book (due Wednesday at 2.00 pm) will be the first opportunity to see the extent that the substantial improvement in macroeconomic data has had on the FRB’s internal thinking,” wrote Michael Shaoul, chief executive of brokerage Oscar Gruss, in a note Monday.
Throughout the day — Auto sales figures for November in the U.S. will be released by car makers.
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