Today's calendar offers the busiest schedule of economic data for the week, featuring initial jobless claims, consumer prices, and regional activity indexes from the New York and Philadelphia branches of the Federal Reserve.
Among companies issuing quarterly results today include Wal-Mart, which will release numbers this morning before the market opens. Applied Materials will report after the close.
Weekly unemployment claims begin the day at 8:30 a.m. ET. The consensus calls for 339,000 new claims, up from the previous month's 333,000 filings. Continuing claims are estimated at 3 million, down from the last reading of 3.018 million.
The consumer price index for July is scheduled for release at the same time. The consensus forecast is 0.2 percent, down from June's 0.5 percent. The core index, excluding food and energy, is expected to repeat the last print of 0.2 percent.
The Empire State manufacturing index for August will also come out at 8:30 a.m. ET. A reading of 6.0 is expected, down from 9.46 in July.
Industrial production for July follows at 9:15 ET a.m. The consensus estimate is 0.4 percent, slightly below the previous month's 0.3 percent.
The Philadelphai Fed survey for August will be reported at 10 a.m. ET. Economists expect a reading of 10.0, compared with July's 19.8.
The NAHB housing market index for August is scheduled for the same hour. It is expected to hold at 57, the same as July's number.
Natural-gas inventories will be reported at 10:30 a.m. ET.
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