Yellen, Draghi dominate calendar


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Central bankers from the United States and Europe dominate today's agenda.

U.S. Federal Reserve Chair Janet Yellen will speak at 10 a.m. ET, followed by European Central Bank President Mario Draghi at 2:30 p.m. ET. Both appear before the Fed's annual symposium in Jackson Hole, Wyoming.

Draghi is likely to have a bigger impact because he said earlier in the month that the ECB may buy assets to boost European growth. Economic reports from the region have remained weak since those comments were made, and the euro has crumbled to 11-month lows in expectation of easier policy.

Yellen's Fed, on the other hand, is in the process of removing monetary stimulus as U.S. growth improves. The timetable for her actions is more predictable than Draghi's.

Next week is relatively uneventful, few major headlines and summer vacations in full swing. The only items Monday are new-home sales and earnings by Qihoo 360 Technology.

Tuesday brings durable-goods orders, plus the Case-Shiller and FHFA house-price indexes. Best Buy reports earnings in the morning, and Analog Devices announces results in the afternoon.

Wednesday features weekly mortgage applications and crude-oil inventories. Tiffany, Express, and Chico's issue results before the opening bell.

Thursday is the busiest session, with revised estimates of second-quarter gross domestic product and weekly jobless claims. Dollar General and Abercrombie & Fitch report in the pre-market. OmniVision Technologies and Splunk follow in the afternoon.

The week concludes Friday with personal income, the Chicago Purchasing Managers Index and final estimates for the University of Michigan's consumer-
sentiment index.

The following weekend lasts three days because of Labor Day on Sept. 1.

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

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.

This article appears in: Investing , Options

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