Daily Market Update 5/1/12

Mortgage rates were little changed Tuesday in quiet trading ahead of Friday's Employment Report.  This morning, the Institute for Supply Management manufacturing index rose unexpectedly to 54.8 from 53.4.  Readings above 50.0 indicate expansion in the manufacturing sector.  March Construction Spending edged up 0.1%, below expectations, while February was revised lower.  No other key data will be released today.