On Tap Today: Third-Quarter GDP, Carnival's Earnings Released - TheStreet

The third-quarter gross domestic product -- released today -- arrives just in time for the holidays.

GDP measures change in the market-value of goods and services, setting the pace at which the market will either grow or decline. The undercard for today's economic events is the

Philadelphia Fed Index

. The Index has the potential to move markets and is widely considered a good gauge of what to expect from the

Purchasing Manager's Index

. As for today¿s earnings announcements,

Carnival

(CCL) - Get Report

reports its fiscal fourth-quarter numbers. Shares of the large cruise ship enterprise traded down 8.02% to $24.38 at yesterday's close.

Expected Earnings Reports

This table includes S&P 500 companies only. Dates are as expected according to First Call/Thomson Financial, and may change. The full week's earnings calendar is published separately.

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.: Gross Domestic Product for Q3--final. Source: Commerce Department. Forecast: +2.4%. Previous: +2.4% (Q3-prelim.) +5.6%. (Q2) Implicit Price Deflator Forecast: +1.9%. Previous: +1.9% (Q3-prelim.) +2.4% (Q2).
  • 8:30 a.m.: Initial Jobless Claims for the week ended Saturday. Source: Labor Department. Forecast: 336,000. Previous: 320,000. Four-week average Forecast: n.a. Previous: 343,250.
  • 10 a.m.: Philadelphia Fed Index for December. Source: Philadelphia Fed. Forecast: 0.9. Previous: 5.2.
  • 2 p.m.: Federal Open Market Committeemeeting minutes. Source: Federal Reserve. The Fed releases the minutes of its monetary policymaking committee's Nov. 15 meeting.