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The Kansas City Fed Manufacturing Index was unchanged in October at 6 to mark a second consecutive month in the plus column for an index that has struggled considerably of late. New orders increased 2 points to 14, while employment went positive for the first time in almost 2-years at 7.

Preliminary 3rd quarter GDP or Gross Domestic Product comes out tomorrow, the overly optimistic consensus expectation is for 2.5% growth. A little ahead of the latest Atlanta Fed GDP Now model that improved to 2.1%, far below the early estimates of 3.7% for an index that seems to always come out on the high side.

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