Here comes Chicago PMI ...

ISM's Chicago purchasing manager's index and business barometer for November is due at 9:45 a.m. ET.

Economists estimate that the gauge of manufacturing and overall business activity in the region fell to 54 from 56.2 in October, according to Bloomberg.

"We expect the Chicago PMI to revert back down to 52.0 in November after the surprise pop to 56.2," Bank of America Merrill Lynch economists wrote to clients.

"The index has been quite choppy since the trough in February, but the overall trend does look to be positive, suggesting modestly accelerating growth. While this is down notably from the average level of 60 in the prior 1.5 years ending January, the upward trajectory contrasts with contractionary readings from other regional surveys, suggesting that the Chicagoland area has been much more resilient in the face of trade and commodity headwinds."

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