Yellen, retail sales, earnings on tap

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Today's agenda features several important items, including economic data, earnings and central bank news.

The first headline comes from Germany, where Zew's economic-sentiment index will be released early in the morning.

Retail sales at 8:30 a.m. ET are the first data point on this side of the Atlantic. Economists expect a gain of 0.7 percent overall in June and 0.6 percent excluding automobiles. That compares with respective increases of 0.3 percent and 0.1 percent in the previous month.

The New York Federal Reserve's Empire manufacturing index at the same time is forecast at 13.2, down from 19.3 in June. Export and import prices are released at 8:30 a.m. ET as well, but aren't tracked by economists.

The pre-market also brings quarterly results from JP Morgan, Goldman Sachs, Johnson & Johnson, and Comerica.

The big event during the trading session is Federal Reserve Chair Janet Yellen's 10 a.m. ET appearance before the Senate. She will testify before the House tomorrow at the same time.

The news keeps flowing in the afternoon, with earnings due from Intel, Yahoo, CSX, Cintas, Adtran, and Interactive Brokers. Chinese gross domestic product and industrial production also come out late in the evening.

Wednesday morning's big names include Bank of America, Textron, BlackRock, PNC Financial, St. Jude Medical, and Abbott Laboratories.

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

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