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Here comes Chicago PMI ...

Sam RoJul 31, 2015, 19:06 IST

At 9:45 a.m. ET we'll get the July Chicago PMI report.

Economists estimate this regional economic activity index climbed to 50.8 in July from 49.4 in June, a sign of growth.

"The Chicago PMI headline index has been below 50 in four out of the first six months in 2015 as businesses have been slow to adjust to the lower energy prices, the stronger dollar, and disruptions from the bad weather and West Coast port labor disputes earlier in the year," Nomura economists said ahead of the report. "We expect to see some improvement in the index in July as oil and drilling activity stabilizes and the effects from the stronger dollar gradually wane. However, it will likely take some time before we see a full rebound in the index."

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