Looking Ahead: Week of September 3 through 7

In a holiday shortened week, the highlight is Friday's employment report for August. This could be the turning point on whether the Fed eases further at its September 12-13 FOMC meeting. The consumer sector recently has shown signs of carrying more weight in the recovery and we will get additional updates with motor vehicle sales, ADP employment, and initial jobless claims. Manufacturing has been wavering, giving more importance to this week’s ISM and Markit manufacturing surveys. Finally, the construction sector has shown improvement and the construction outlays report will indicate if this trend continues.