Revised economic growth numbers and initial jobless claims are
the main items on today's calendar.
Economists expect second-quarter gross domestic product to have
expanded 2.1 percent, compared with the previous estimate of 1.7
percent. Jobless claims are forecast at 330,000, down from 336,000
the previous week. Higher readings would be bullish on the GDP
number, while lower readings would be positive on claims. Both will
be released at 8:30 a.m. ET.
Natural-gas inventories follow two hours later, which could affect
sentiment among energy stocks.
Salesforce.com and OmniVision Technologies report earnings after
the closing bell. Japan is also scheduled to announce several
important numbers this evening, including industrial production and
its purchasing managers index. Those could affect trading Friday
Tomorrow's only report is the Chicago Purchasing Managers Index.
The calendar is more active next week, starting with Chinese
manufacturing data late Sunday night. The Institute of Supply
Management's key manufacturing index follows on Tuesday.
Thursday brings a slew of headlines: European manufacturing data,
the European Central Bank's monetary announcement, retailer monthly
same-store sales and ADP private-sector payrolls. It climaxes
Friday morning with the pivotal non-farm payrolls report.
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