PMI data and crude oil inventories highlight Wednesday’s economic calendar

On Wednesday, September 23, 2026, traders brace for a significant day on the economic calendar, with a host of crucial data releases set to influence market trends. The day's highlights include manufacturing and services PMI figures from S&P Global, along with the Energy Information Administration's crude oil inventories report. These releases will shed light on the manufacturing and service sectors' health, as well as energy market conditions, offering traders vital insights into the economy's broader outlook.

At 8:45 AM ET, the Manufacturing PMI is forecasted at 53.6, with the previous reading at 53.9. This indicator gauges the activity level of purchasing managers within the manufacturing sector, where values above 50 signify expansion. Simultaneously, the Services PMI is expected to come in at 55.8, following the prior figure of 56.5. This survey of over 400 private sector service company executives gauges conditions in the services sector.

At 9:30 AM ET, the EIA Crude Oil Inventories report is due, projecting a weekly change of -0.600 million barrels, compared to the previous -0.640 million barrel change. This figure influences petroleum prices and inflation. Similarly, the S&P Global Composite PMI, which combines both manufacturing and services data, is anticipated at a previous level of 56.0.

Federal Reserve Vice Chair for Supervision Michael Barr is scheduled to speak at 9:05 AM ET, providing further guidance on monetary policy. At 9:30 AM ET, the EIA's Weekly Cushing Oil Inventories report, previously at -0.342 million barrels, is released, reflecting changes in crude oil storage at Cushing, Oklahoma, the key delivery point for West Texas Intermediate benchmark.

Other notable releases include the 5-Year Note Auction at 12:00 PM ET, with a previous yield of 4.393%. The Federal Reserve's mortgage rates are forecasted at 6.97% at 6:00 AM ET, along with mortgage applications, refinance index, purchase index, and market index, all expected to remain unchanged from the previous week. Gasoline inventories, distillate fuel stocks, refinery utilization rates, refinery crude runs, crude imports, gasoline production, distillate fuel production, and heating oil stocks are all slated for release at 9:30 AM ET.