Wall Street likely will spend a lot of today looking ahead to tomorrow's meeting of the

Federal Reserve. As it waits, the market can chew on the latest round of economic data and earnings reports.

The April

industrial production and March

business inventories reports are due out before the opening bell.

Industrial production, which measures the total output of the nation's mines, factories and utilities, is expected to dip. The data serve as a key gauge of the factory sector and frequently move markets. Manufacturing has been squeezed for months. Data on business inventories have little impact on the market because most of the figures are already known by the time they are released.

On the earnings front, information technology firm

Computer Sciences

(CSC)

and waste-management giant

Allied Waste

(AW)

are slated to report their quarterly profit results.

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.: Business Inventories for March. Source: Census Bureau. Forecast: n.a. Previous: -0.2%.
  • 8:30 a.m.: Industrial production for April. Source: Federal Reserve. Forecast: -0.3% (Preliminary). Previous: +0.4%. Capacity utilization: Forecast: 79.0% (Preliminary). Previous: 79.4%.

IPO Lockups Expiring

(

TheStreet.com's Michael Falbo, who writes a column for TheStreet.com's ipoPros.com subsidiary, keeps a close eye on lockup expirations every week. For more on lockup expirations and why they matter, check out Ben Holmes' primer on the subject. The full current lockup expiration list is published separately. For information on IPO pricings, filings and aftermarket activity, plus a calendar of upcoming IPOs, check out

TheStreet.com's

IPO data section.

)

Lockup End

Deal Name

Symbol

Lead Underwriter

5/14/01

Novatel Wireless

(NVTL:Nasdaq)

Credit Suisse First Boston