On Tap Today: Initial Jobless Claims, Costco Earnings

After yesterday's carnage in tech land, the market will look to get back on its feet. The initial jobless claims report is due out before the opening bell. This indicator should provide further clues as to the nature of Friday's employment report . The number of claims has risen 30% over the course of the last year.

As for earnings news, wholesale retailer Costco(COST Quote) issues its quarterly results today. According to research firm Thomson Financial/First Call, analysts expect the company to post third-quarter earnings of 23 cents a share, which would be down 3 cents from the year-ago quarter.

Economic Data

(Forecasts are from Reuters. Times are Eastern. For a longer-term economic calendar and more, see TSC's Economic Databank.)

• 8:30 a.m.: Initial jobless claims for the week ended May 25. Source: Labor Department. Forecast: 405,000. Previous: 407,000. Four-week average: Forecast: n.a. Previous: 403,000.

• 10 a.m.: Help-Wanted Index for April. Source: Conference Board. Forecast: n.a. Previous: 66.