Housing is the main theme of today's economic calendar.
Home Depot announces earnings before the opening bell and the
Commerce Department will release July housing starts and building
permits at 8:30 a.m. ET. Starts are expected to run at a 964,000
annualized pace, up from 893,000 in June. Permits are estimated at
1 million, compared with 963,000 the previous month.
Consumer prices for July come out at the same time. Economists
forecast an increase of 0.1 percent on both an overall and core
basis, excluding food and energy. They rose 0.3 percent and 0.1
percent in June respectively.
Other noteworthy events include earnings from Medtronic, TJX, and
Dick's Sporting Goods also in the morning. Japanese trade data is
due late in the evening.
Tomorrow features an increasing number of retailer earnings plus
minutes from the last Federal Reserve meeting. Lowe's, Target,
Staples, PetSmart, American Eagle Outfitters, and E-House China
report before the opening bell, followed by Hewlett-Packard and L
Brands in the afternoon. There's also weekly mortgage-lending and
crude-oil data in the morning, and the following overnight session
brings important preliminary manufacturing data from China and
Thursday marks the beginning of the Fed's annual conference in
Jackson Hole, Wyoming. Weekly jobless claims and the Philadelphia
Fed's regional activity index are also scheduled. Dollar Tree and
Sears report before the opening bell, followed in the afternoon by
Gap, Ross Stores, GameStop, Aeropostale, and Salesforce.com.
Friday kicks off with Foot Locker earnings. Fed Chair Janet Yellen
and European Central Bank chief Mario Draghi will speak during
market hours from Jackson Hole.