On Tap Today: Consumer Confidence Data, 3Com's Earnings, More - TheStreet

On Tap Today: Consumer Confidence Data, 3Com's Earnings, More

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The Fed meets for the first of two days to set the fed funds rate. At the same time, earnings reports from consumer companies and economic indicators gauging consumer moods may show the influence of this year's rate hikes.

The

Redbook Retail Average for the month ended Saturday and the

BTM/Schroder Weekly U.S. Retail Chain Store Sales Index for the week ended Saturday are due this morning, both within the same hour as the

Consumer Confidence Index

for June.

Food and shelter are important everyday, but especially today. Cereal maker

General Mills

(GIS) - Get Report

and homebuilder

Kaufman & Broad

(KBH) - Get Report

are slated to report their quarterly earnings today.

Also reporting today, are

3Com

(COMS)

and

National Service Industries

(NSI)

-- a producer of lighting equipment, chemicals, textile rental, and envelopes.

Expected Earnings Reports

(

This table includes S&P 500 companies only. Dates are as expected according to First Call/Thomson Financial and may change.

)

Economic Data

(

Forecasts are from

Reuters

. Times are Eastern. For a longer-term economic calendar and more, see

TSC's

Economic Databank.

)

  • 9 a.m.: BTM Weekly U.S. Retail Chain Store Sales Index for the week ended Saturday. Source: Schroder . Forecast: N/A. Previous: 0.1%.
  • 10 a.m.: Consumer Confidence Index for June. Source: Conference Board. Forecast: 140.1. Previous: 144.4.
  • 10:30 a.m.: Redbook Retail Average for the month through Saturday. Source: LJR Redbook. Forecast: N/A. Previous: -0.1%.
  • 2:30 p.m.: Federal Open Market Committee meeting. Source: Federal Reserve. The Fed's monetary policymaking committee convenes in Washington for the first day of a two-day meeting. Any change in monetary policy will be announced at about 2:15 p.m. Wednesday.

Lockup Expirations

(TheStreet.com's

Ben Holmes, who heads

TSC's

ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockups and why they matter, check out Holmes' primer on the subject. The full current lockup list is published separately.

)