Today is the busiest session of the week, with important news on both sides of the Atlantic.
Germany's Ifo business-climate survey gets the ball rolling early and may have some impact on sentiment given recent concern about foreign economies.
Durable-goods orders and initial jobless claims both follow in the U.S. at 8:30 a.m. ET. Economists forecast orders declined 2 percent overall in August but rose 0.2 percent excluding volatile transportation equipment. That would compare with gains of 2.2 percent and 0.4 percent, respectively, in July.
Jobless claims are expected to come in at 271,000, up from the previous week's 264,000 reading. August new-home sales at 10 a.m. ET are seen coming in at a 515,000 annualized pace, up from 507,000 in July. Natural-gas inventories at 10:30 a.m. ET could affect the energy sector.
Federal Reserve Chair Janet Yellen gives a speech about inflation and monetary policy after the closing bell, which has the potential to shape sentiment heading into tomorrow.
Accenture reports earnings in the pre-market. Nike, Bed Bath & Beyond, Cintas, Jabil Circuit, and Pier 1 are scheduled for the afternoon.
Friday brings the final revision for second-quarter gross domestic product, revised consumer sentiment, and BlackBerry earnings.
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