Today's calendar features three relatively minor economic reports: producer prices, industrial production, and consumer sentiment.
The Labor Department will announce the producer-price index at 8:30 a.m. ET. Economists expect gains of 0.1 percent on both the headline and core numbers. Inflation generally hasn't been a worry recently, so it's unlikely to affect market sentiment.
Industrial production for May, released by the Federal Reserve, follows at 9:15 a.m. ET. Economists expect growth of 0.1 percent, compared with a decline of 0.5 percent in April. The report usually doesn't affect trading because it relates to a month that's been covered by earlier reports.
Consumer sentiment at 9:55 a.m. ET is perhaps the most important of the three because it's the most current. Forecasts look for a reading of 83, down from 84.5 in May.
Next week's agenda includes the New York Fed's Empire Manufacturing index and homebuilder sentiment on Monday. Germany's Zew survey of financial conditions, consumer prices, and housing starts follow on Tuesday.
Wednesday brings the Fed's key interest-rate decision, while Thursday features European industrial data and weekly jobless claims.
More From optionMONSTER
- Show of support for Magnum Hunter
- Audiocast: Traders bet VIX will drop
- J.C. Penney faces downside position
- Investment & Company Information