After a feel-good day on both the Dow and the tech-laden Nasdaq yesterday, today's market gets set to absorb several economic releases. The class of the bunch are the Producer Price Index and industrial production.
But last night's
after-hours action, marred by
Nortel's warning and tech's general weakness didn't paint an especially bright picture for today's action, especially in the early going.
The PPI, an important inflation gauge, measures the change in prices received by domestic producers of commodities in all stages of production. This includes crude materials, intermediate materials, and finished goods. Like many inflation measures, it frequently moves markets.
Industrial production, on the other hand, measures the change in production in the nation's factories, mines and utilities. It, too, has the tendency to influence the markets.
In earnings news, truck-maker
and wireless provider
issue their quarterly numbers today.
Shares of Navistar traded down 2.2% to finish at $25.59 yesterday and Nextel fell 6.6% to $29.56.
Expected Earnings Reports
This table includes S&P 501 companies only. Dates are as expected according to First Call/Thomson Financial, and may change. The full week's earnings calendar is published separately.
Forecasts are from
. Times are Eastern. For a longer-term economic calendar and more, see
- 8:30 a.m.:
Producer Price Index for January. Source:
Labor Department. Forecast: +0.3%. Previous: unchgd.
Ex- food and energy: Forecast: +0.1% Previous: +0.3%.
Housing starts for January. Source:
Census Bureau. Forecast: 1.573M. Previous: 1.575M.
Building permits: Forecast: 1.539M Previous: 1.507M.
Industrial production for January. Source:
Federal Reserve. Forecast: unchanged. Previous: -0.6%.
Capacity utilization: Forecast: 80.4% Previous: 80.6%.
Consumer Sentiment Index for February--preliminary. Source:
University of Michigan
. Forecast: n.a. Previous: 95.1.