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US ISM Manufacturing index in focus for the markets today- check out the Dow Jones futures

At 2pm GMT today the US will release the May ISM Manufacturing index. This is an important release and it sure can have an impact across a number of markets. Naturally, the US equity markets and the dollar are front and centre in that respect. So, what do the markets expect from the ISM report today? The consensus is for the index to rise, to around 49.6, from the prior reading of 49.2, remembering that any reading below 50 is contractionary. There are also the components of this report to consider, namely Prices Paid, Employment and New orders. The prices paid component is probably the most likely to have an impact, if wide of the mark and last time it stood at 60.9, which was a significant increase of prior readings. As you now know, the Dow Jones jumped into the month end, but right now the index future is lower this morning. Of course the index will reopen ahead of this data, so wherever that is may not count for much when this hits the wires. The index closed on Friday at 38,686 and it is currently priced to reopen at 38,655
 

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