Here comes Markit manufacturing PMI ...

Markit Economics and the Institute of Supply Management will release their reports on US manufacturing during August shortly.

At 9:45 a.m. ET, Markit's purchasing manager's index (PMI) is forecast to come in at 52.1, unchanged from the preliminary reading. And at 10 a.m., economists estimate that the ISM index will be 52, down from 52.6 in July.

Both readings would indicate that the manufacturing sector is still in expansion, because they are above 50.

In its flash report, Markit reported a slowdown in overall order book growth and hiring.

Here's a recap of ISM's findings via Wells Fargo's Sam Bullard:

"The production index climbed to an 18-month high in July and new orders were at a strong 56.9 level, although the orders backlog component dipped into contraction territory. Other factory sector indicators, such as industrial production and durable goods orders, signaled a pick-up in activity to start Q3. In addition, manufacturers have added 24,000 jobs over the past two months after shedding 39,000 through the first five months of the year.

It appears the manufacturing sector is on a more solid footing, and we expect the ISM manufacturing index to extend its streak of above-50 readings to six in August-our call, 52.3."

More to come ...