Housing, inflation data on tap

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Housing and inflation are the main items on today's economic calendar.

Both sets of numbers cover May and are scheduled for 8:30 a.m. ET, with housing starts and building permits coming from the Commerce Department and price data from the Bureau of Labor Statistics.

Economists expect housing starts of 1.028 million on an annualized basis, down from April's 1.072 reading. Permits are expected to dip to 1.05 million from 1.08 million.

The Consumer Price Index is estimated to have increased by 0.2 percent overall and on a so-called core basis, which excluse food and energy. It rose 0.3 percent and 0.2 percent respectively in the previous month.

Other items on the calendar include Germany's Zew survey of economic conditions early in the morning and Chinese house-price data late in the evening. Adobe Systems reports earnings after the closing bell.

Tomorrow is the most important session of the week, with the Federal Reserve's interest-rate decision scheduled for the afternoon. It also brings weekly crude-oil and mortgage-application data. FedEx reports earnings in the pre-market, followed by Jabil Circuit and Red Hat after the closing bell.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Options

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