The only economic reports today are German industrial-production
and trade in the morning, followed by Chinese trade in the evening.
Earnings season kicks off this evening with aluminum producer Alcoa
announcing quarterly results. Although few other earnings releases
are scheduled this week, companies often issue preliminary numbers
at this time in the cycle.
Tomorrow's U.S. reports include the NFIB Small-Business Optimism
Index at 7:30 a.m. ET and the two weekly retail releases, the
ICSC-Goldman Store Sales and Redbook numbers. Perhaps the most
important event will occur overseas with the Bank of Japan's
monetary announcement in the evening. Given the importance of
Japan's rally to broader sentiment this year, the event could move
Wednesday brings French and Italian industrial production in the
morning and minutes from the last Federal Open Market Committee
meeting in the afternoon. Federal Reserve Chairman Ben Bernanke is
scheduled to speak at 4:10 p.m. ET.
Retailers report same-store sales for June on Thursday morning and
the Labor Department will release weekly jobless claims. Friday
brings the producer-price index and consumer sentiment.
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