Markets

Mix of data ahead of Jackson Hole

Today's calendar brings a mix of economic data from overseas and the United States.

HSBC/Market will release preliminary manufacturing data overnight for China and Europe. The numbers could shape expectations ahead of European Central Bank President Mario Draghi's speech at Jackson Hole, Wyoming, tomorrow. It's potentially important because the euro has been under significant selling pressure in the last month.

Initial jobless claims at 8:30 a.m. ET are the first U.S. data headline. Economists expect a reading of 308,000, down from 311,000 the previous week.

Existing home sales and the Philadelphia Federal Reserve's regional activity index follow at 10 a.m. ET. Home sales are forecast to slow to an annualized 5 million in July from 5.04 million in the previous month. Philly Fed is expected to have a reading of 15.5 in August, compared with 23.9 in July.

Tomorrow is dominated by the Fed's annual symposium at Jackson Hole. Chair Janet Yellen speaks at 10 a.m. ET, followed by Draghi at 2:30 p.m. ET.

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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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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