Overseas data, jobless claims on tap

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Overseas data and initial jobless claims are the main items on today's calendar.

Japan reported its quarterly change in gross domestic product last night, while Germany, France, Italy, and the Eurozone followed with similar data early this morning.

The one big report in the United States is jobless claims at 8:30 a.m. ET. Economists expect a reading of 365,000 versus 366,000 a week earlier. A lower number could be interpreted bullishly, while a higher one could be negative because it would mean that more people have been losing jobs.

Weekly natural-gas inventories follow at 10:30 a.m. ET, which could affect energy stocks.

Major companies reporting quarterly results include PepsiCo in the morning and CBS after the closing bell.

Japan will announce industrial production late tonight, which could affect sentiment heading into tomorrow's session.

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