Jobless claims, housing data on tap

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Today's calendar brings a wide range of economic and corporate news.

European inflation comes out early and has the potential to sway sentiment because it can affect bond yields. The data has recently been deflationary, which can be bearish for equities.

Weekly jobless claims, monthly housing starts, and building permits are all scheduled for 8:30 a.m. ET. Economists expect that 311,000 Americans sought unemployment benefits for the first time last week, up from 304,000 in the previous period.

Housing starts for June are forecast to come in at 1.02 million, up from 1 million in May. Building permits are projected to be 1.037 million versus 991,000 in the previous month. Both figures are reported on an annualized basis.

The Philadelphia Federal Reserve's regional activity index follows at 10 a.m. ET. Economists are looking for a reading of 12.5, down from 17.8 in June. Weekly natural-gas inventories round out the economic agenda 30 minutes later.

Several noteworthy companies report earnings as well: Morgan Stanley, UnitedHealth, Danaher, Baxter, Mattel, Blackstone, and Mattel are scheduled for before the opening bell. Google, IBM, Skyworks Solutions, Seagate Technology, Schlumberger, and Advanced Micro Devices follow in the afternoon.



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

Referenced Stocks: SPX

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