Chicago Fed data only calendar item


The event calendar begins quietly and grows busier as this week progresses.

Today's only item is the Chicago Federal Reserve's index of economic activity at 8:30 a.m. ET. The report seldom moves broader sentiment.

There are no economic releases tomorrow, though prominent retailers including Best Buy, Home Depot, Saks, and TJX report quarterly results.

Wednesday brings weekly mortgage-loan applications, existing home sales and Fed Chairman Ben Bernanke's testimony before Congress's Joint Economic Committee. Separately, the Fed will release minutes from its last meeting. Tech giant Hewlett-Packard reports earnings as well, and China's HSBC manufacturing index will be released later in the evening.

Global news remains in focus Thursday morning, with French, German, and Eurozone manufacturing data on tap. The U.S. Labor Department also issues weekly jobless claims, and the Commerce Department will announce new-home sales.

Friday begins with two potentially important German reports: economic growth and the Ifo survey of business-sentiment. Durable goods orders will be released in the United States.

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