Fed, mortgage data top quiet calendar

David Russell (david.russell@optionmonster.com)

The economic calendar remains quiet today, with weekly mortgage applications and Federal Reserve minutes as the main events.

The Mortgage Bankers Association will release its numbers at 7 a.m. ET. The data could potentially affect homebuilding stocks.

The minutes of the last Fed meeting will be released at 2 p.m., which could move markets as traders seek clues on whether the central bank will reduce monetary stimulus.

China is also scheduled to issue trade-balance data before the market opens. The news is often viewed as a barometer for the global economy, so it could affect U.S. trading.

Attention shifts to consumers tomorrow, when monthly same-store sales and weekly jobless claims come out. Friday brings the Commerce Department's retail sales data and the University of Michigan's consumer sentiment number.

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