Markets enter Monday, February 2, 2026, with attention fixed on a slate of manufacturing reports and other economic events that could shape investor sentiment across equities, energy and fixed income. The headline Manufacturing PMI and the ISM Manufacturing PMI are the principal data points, offering a snapshot of U.S. industrial activity that market participants often use as an early gauge of broader economic momentum.
Both indicators are widely followed because they provide timely information on production, orders and supply-chain conditions. A Manufacturing PMI reading above 50 signals expansion in the sector, and the market is awaiting the preliminary manufacturing purchasing managers' index, forecast at 51.9 versus the prior 51.8. Shortly after that release, the Institute for Supply Management will publish its manufacturing index - a survey-based measure compiled from responses by purchasing executives at more than 400 industrial firms - which previously stood at 47.9.
Major economic events to watch on Monday
- 9:45 AM ET - Manufacturing PMI: The purchasing managers' index for the manufacturing sector is expected at 51.9, compared with the earlier 51.8. Readings above 50 indicate sector expansion.
- 10:00 AM ET - ISM Manufacturing PMI: The ISM's comprehensive manufacturing index, based on a survey of more than 400 companies, previously registered 47.9 and includes detail on new orders, production and employment.
Market participants will also dissect ISM subcomponents published at the same time, which can offer more granular insight into the trajectory of manufacturing activity.
Other scheduled items that could sway markets
- 5:00 AM ET - OPEC Meeting: Delegates from the 13-member oil-producing group will convene to discuss market conditions and production quotas, an event that can move oil prices and energy-sector stocks.
- 10:00 AM ET - ISM Manufacturing Employment: This ISM component, previously at 44.9, focuses on hiring trends in the factory sector and has been below the 50 threshold, indicating contraction in manufacturing employment.
- 10:00 AM ET - ISM Manufacturing Prices: The prices-paid measure for manufacturers was previously 58.5, reflecting notable price pressure in input costs and supply chains.
- 11:30 AM ET - Atlanta Fed GDPNow: The real-time estimate for current-quarter GDP growth is forecast at 4.2%, unchanged from the prior reading, serving as an intra-quarter gauge of economic performance.
- 12:30 PM ET - FOMC Member Bostic Speaks: Comments from Atlanta Fed President Raphael Bostic will be watched for any signals on the Federal Reserve's monetary policy outlook.
- 10:00 AM ET - ISM Manufacturing New Orders Index: The forward-looking new orders component previously registered 47.7 and is important for anticipating future production levels.
- 11:30 AM ET - 3-Month Bill Auction: The Treasury will auction short-term paper; the prior auction yielded 3.580%.
- 11:30 AM ET - 6-Month Bill Auction: The previous yield on the medium-term bill auction was 3.525%, providing a read on investor demand for Treasury bills.
- 2:00 PM ET - Loan Officer Survey: The Federal Reserve's survey of lending standards and loan demand across domestic and foreign banks operating in the U.S. will shed light on credit conditions.
Collectively, these data points span growth, inflation and liquidity dimensions. Manufacturing PMI readings and ISM subcomponents offer near-term signals on activity and input price pressures; the OPEC meeting has the potential to affect energy markets; Treasury bill auctions and the Loan Officer Survey inform funding conditions; and Atlanta Fed GDPNow and an FOMC speech provide context for the policy outlook.
Where markets may look for clues
Traders will parse the Manufacturing PMI and the ISM report not only for their headline messages but for internal breadth - such as new orders and employment - that can foreshadow momentum in production and labor demand. Separately, elevated readings in the ISM prices component will be monitored for implications on input-cost inflation. The OPEC meeting is a wildcard for oil and energy-related equities, while the Treasury bill auctions will be watched for demand dynamics in short-term government debt.
For the latest updates and timing, consult the Economic Calendar.