Retail-sales data is the main event on today's calendar.
The Commerce Department will release the December numbers at 8:30
a.m. ET. Economists expect an increase of about 0.3 percent, in
line with the reading for November. A higher reading would be
bullish, while a lower figure could be bearish. Recent retail
data has been disappointing after a weak holiday-shopping season.
The New York Federal Reserve publishes its Empire State
Manufacturing index for January at the same time. While its
narrow geographic focus usually prevents it from affecting
broader market sentiment, the data will provide some clues about
the strength of the economy. The consensus forecast calls for a
reading of 2, up from -8.1 in December.
Additionally at 8:30 a.m., the Bureau of Labor Statistics will
release its December producer price index. The release is
unlikely to impact sentiment because inflation and rate hikes are
not a concern to the market at present.
Also before the bell, homebuilder Lennar is scheduled to report
fourth-quarter results. Other companies in the industry may also
be active on the news.
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