Here comes ISM manufacturing ...

The Institute of Supply Management (ISM) and Markit Economics will release their reports on US manufacturing during December shortly.

Markit's purchasing manager's index (PMI) will be released first, at 9:45 a.m. ET. A preliminary reading put the index at 54.2.

At 10 a.m., ISM will release its PMI, which is forecast at 53.8. Readings above 50 would show that the industry is still in expansion.

Some manufacturers reported a bounce in their clients' willingness to spend after the November election, as uncertainty about the result had lifted. Several surveys of business confidence have also shown that executives are hopeful for fewer regulations and lower taxes under the new administration.

President-elect Donald Trump has put the manufacturing industry at the heart of his economic message, promising to bring back jobs that he said were moved overseas. The sector has been dwarfed by output from services, which accounts for about two-thirds of the US economy.

More to come ...