Industrial reports in focus this week

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There is a broad array of events on this week's calendar, with a focus on industrial data.

Italian elections began yesterday and will conclude today. China's HSBC purchasing manufacturing index was also announced in the overnight session, which could affect sentiment this morning.

At 8:30 a.m. ET, the Chicago Federal Reserve will release its monthly index of manufacturing activity. While it provides clues on the strength of the United States economy, it usually doesn't affect trading because of its narrow geographical focus.

Tomorrow brings the Case-Shiller index of home prices, new-home sales, and consumer confidence. Durable-goods orders are the main item Wednesday, followed by gross-domestic product and initial jobless claims Thursday morning.

Attention then shifts overseas, first to another Chinese manufacturing report in the evening and then to European and German PMI reports early Friday morning.

Friday's trading session will also see the release of consumer sentiment and the Institute of Supply Management's important manufacturing index.

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