Today's calendar focuses on jobless claims, housing starts, and
earnings reports by key bank names.
Jobless claims and housing starts are both scheduled for 8:30 a.m.
ET. Economists expect about 370,000 new unemployment filings,
down from 371,000 last week. A significantly lower number could be
bullish because it would mean that fewer people lost their jobs,
while the opposite is true if the count rises.
Housing starts are expected to show activity quickening to an
annualized pace of 889,000 in December versus 861,000 the previous
month. A higher number would be considered positive.
Also before the opening bell, Citigroup and Bank of America are
scheduled to release fourth-quarter results.
Economic releases continue at 10 a.m. ET, when the Philadelphia
Federal Reserve bank will publish the economic-activity index for
its region. Economists expect a reading of 5.2, up from 4.6 last
Shortly after the closing bell, semiconductor giant Intel will
announce earnings. The report could have a big impact on the
technology sector tomorrow morning.
Also in the evening, China will report fourth-quarter gross
domestic product figures. That data could affect overall market
sentiment, especially for materials and commodities.