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Durables, home sales on agenda

David Russell (david.russell@optionmonster.com)

Today's economic calendar includes durable-goods orders and new-home sales.

The first report is weekly mortgage applications at 7 a.m. ET. It usually doesn't affect sentiment and isn't followed by economists.

Durable-goods orders August follow at 8:30 a.m. ET and are expected to increase 0.5 percent versus a decline of 7.4 percent in July. Economists are looking for a gain of 0.9 percent excluding volatile transportation equipment versus a 0.8 percent drop the previous month. Higher readings are potentially bullish, while lower numbers could trigger selling.

New home sales at 10 a.m. ET are forecast to come in at a 390,000 annualized pace, down from 415,000 in the previous month.

Crude-oil inventories follow half an hour later, which could affect trading among energy companies.

Earnings reports come from AutoZone before the opening bell. Bed Bath & Beyond and Jabil Circuit follow in the afternoon.

Tomorrow's agenda brings the final revision to second-quarter economic growth figures, initial jobless claims, and pending home sales. Accenture and Nike report after the close.

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