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Wall Street & The White House Agenda
@ The White House
In the morning, the President will receive the Presidential Daily Briefing in the Oval Office.
Later in the morning, the President will deliver remarks on the economy at the James Lee Community Center in Falls Church, Virginia.
In the afternoon, the President will meet with senior advisors in the Oval Office.
@ Wall Street
Construction Spending (Dec.) Construction spending likely showed modest improvement in December, with strength primarily on the residential side ? single-family and multifamily. Commercial construction and public projects, however, were weak. Excluding improvements, spending should show an increase of 0.4%.
ISM Manufacturing Index (Jan.) Manufacturing likely experienced an accelerated pace of expansion in January. Orders and shipments should remain strong, while supplier deliveries and inventories, which lagged last month, should catch up.
Motor Vehicle Sales (Jan.) After the strong year-end promotional activity to close out 2011, we expect January 2012 sales to retreat mildly, to 13.2-million units (SAAR) from 13.5-million in December.