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Fed, home data in focus this week

Mike Yamamoto (mike.yamamoto@optionmonster.com)

The economic calendar slows down after its recent torrid pace but still includes some important data and earnings reports this week.

Although no major releases are on tap today, some important reports are scheduled from the Federal Reserve. The Chicago Fed National Activity Index will be announced tomorrow, and the Federal Open Market Committee Minutes will be disclosed on Wednesday. That will be followed by the Kansas City Fed Manufacturing Index on Thursday and a speech Friday by Fed Vice Chair Janet Yellen, a leading candidate to succeed Chairman Ben Bernanke.

Housing will also be in focus, with existing home sales and Toll Brothers' earnings report scheduled for Wednesday. The FHFA House Price Index will be released on Thursday, followed by new home sales on Friday.

Corporate earnings season is winding down, but some key retailers will announce quarterly numbers this week. Apparel retailer Urban Outfitters will report today after the market closes, as will Chinese game developer Perfect World. Companies reporting tomorrow include Home Depot, Best Buy, Barnes & Noble, and Dick's Sporting Goods.

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