U.S. Steel Capacity Utilization: For the week ending October 31, total raw steel production was 1.747 million net tons, with a capacity utilization rate of 76.3%.

ISM Manufacturing Index: The Institute for Supply Management (ISM) Manufacturing Index fell 0.8 points month over month to 48.7 in October, coming in below the forecast of 50.

Oil and Gas Rotary Rig Counts: The total number of operating rigs in the U.S. for the week ending October 31st was 414 oil and 125 gas (totaling 539). In percentage terms, on a month on month (m/m) basis, oil rigs were down 1.9% and gas was up at 5.9%. On a year on year (y/y) comparison, rigs were down 13.6% for oil and up 22.5% for gas. The combined figure for y/y was -6.7%, or -39 rigs.

ISM Manufacturing Index: The Institute for Supply Management’s manufacturing index moved up 0.7% (m/m) to 49.1 for September 2025; this value is weaker than the forecast of 50. The new orders sub-index scored at 48.9. Overall, the ISM manufacturing index is strong, while the global economy is beginning to strengthen again following shutdowns throughout Covid-19.

Advance Durable Goods Orders: The U.S. Census Bureau reported that New Orders for Manufactured Durable Goods rose 2.9% in August to $312.1 billion, bouncing back after two months of decline. Transportation equipment led the gains, climbing 7.9% to $110.2 billion. Excluding transportation and defense, orders also saw modest increases of 0.4% and 1.9%, respectively.

Oil and Gas Rotary Rig Counts: The total number of operating rigs in the U.S. for the week ending September 26th was 424 oil and 117 gas (totaling 541).