Manufacturing industry

The data continue to offer a mixed picture, with manufacturing expanding, services hurting, and while construction spending rose more than expected, it followed a downward revision to the previous month's number.

Pending home sales unexpectedly declined in October, the second consecutive month they dropped.

The consumer confidence index suggested expectations have slipped, and the Richmond Fed's services survey also offered a dim view ahead.

The Federal Reserve’s changed policy framework is “an evolution, not a revolution,” according to Vice Chair Richard Clarida.

No one expects any change to the fed funds rate target when the Federal Open Market Committee meets on Wednesday and Thursday, but that doesn’t mean there’s nothing to watch for.

Personal income increased 0.9% in September after a 2.5% decline in August, the Commerce Department reported Friday, while personal consumption grew 1.2% after a 0.7% gain in August.

Consumers cut back on purchasing plans, suggesting they see a tough fourth quarter, economists said.

The economic news was mixed again Monday, with home sales unexpectedly dipping, while two reads of manufacturing showed expansion continued, but one suggested a slower rate of growth.

Jobless claims fell to below 800,000, existing home sales soared, leading indicators rose more than expected and the Kansas City Fed manufacturing index also climbed in the latest reading.

The economic news Friday was mostly positive, with consumers spending on clothes, cars and eating out, while manufacturing continues to suffer.