Here comes ISM manufacturing ...

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At the top of the hour, we'll get the latest reading on US manufacturing from the Institute of Supply Management.

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Economists estimate that the index rose to 53.2 in June from 52.8 in May, according to Bloomberg.

In a note previewing the economy this week, Credit Suisse wrote: "With global growth momentum currently rebounding, we anticipate ISM to continue to accelerate going into the summer. The new orders index, which tends to lead the headline number, printed a robust 55.8 last month. And although regional surveys have been mixed the general trend is clearly positive. Auto production schedules are also pointing to a strong pickup in June."

We'll be back with the details once they cross.