Today's economic calendar focuses on news from central banks in Europe and employment data in the United States.
The Bank of England and European Central Bank will announce interest rates before U.S. trading opens. A press conference will follow the ECB release, which could result in headlines about the region's ongoing public-debt issues. It could also affect trading in the euro, which in turn often influences energy prices.
Also in the overnight session, Germany will release manufacturers' orders, but it will probably be trumped by the ECB decision later in the morning.
Initial jobless claims at 8:30 a.m. ET are the main U.S. report. Economists expect a reading of 382,000, down from 393,000 last week. A lower figure would be positive for sentiment because it would suggest that fewer people lost their jobs, while a higher number would be negative. The all-important monthly payrolls report follows tomorrow morning.
The weekly natural-gas inventories report will be reported at 10:30 a.m. ET.
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