Durable goods, key earnings on tap
Today is the busiest session of the week for data, with several
economic events and a full roster of corporate earnings.
European consumer and business confidence are both due early in the morning and could affect trading.
Durable-goods orders and weekly jobless claims for the United States both follow at 8:30 a.m. ET. Economists estimate that durable goods declined 1.1 percent overall in January and 0.3 percent excluding transportation equipment. They fell 4.2 percent and 1.3 percent, respectively, the previous month. Stronger readings could boost sentiment.
Jobless claims are expected to decline by 1,000 from 336,000 last week.
The Kansas City Federal Reserve follows with its index of regional activity at 11 a.m. ET.
Earnings before the opening bell will be reported by companies including Best Buy, Mylan, Kohl's, Fortress Investment, Valeant Pharmaceuticals, Wendy's, Ocwen Financial, and Nationstar Mortgage. Salesforce.com, Monster Beverage, Gap, Ross Stores, and OmniVision Technologies follow in the afternoon.