Here comes Markit services PMI ...

Markit Economics will release its preliminary report on the US services sector during October at 9:45 a.m. ET.

The flash services purchasing manager's index (PMI) is forecast at 52.5, according to Bloomberg, up from 52.3 last month. A PMI reading above 50 indicates expansion in the sector.

Based on a survey of service-sector managers, the report will reflect 85-90% of Markit's survey results, which will be released in full in November.

Last month, business managers stopped adding as many new people to their payrolls because work orders slowed down. They told Markit that they hoped client spending picks up after the elections.

The service sector is where two-thirds of all economic activity happens, and it creates most of America's jobs.

More to come ...