NEW YORK (
) -- The government's latest read on inflation at the producer level will be in the spotlight Tuesday ahead of the
latest decision on interest rates.
The producer price index, set for release by the Labor Department at 8:30 a.m. EST, is expected to have risen 0.8% last month after a 0.3% climb in October, according to analysts polled by
. The core number, which excludes food and energy, should tick 0.2% higher after a 0.6% slide the month prior.
The inflation report comes as the Federal Open Market Committee, the central bank's policy-making arm, begins a two-day meeting on interest rates, with a decision expected Wednesday at 2:15 p.m. EST. Economists do not expect the Fed will raise interest rates from the target range of zero to 0.25%, as recent comments from Fed officials indicate that the "extended period" phrase in the
will not yet be removed.
On Wednesday, the more closely watched consumer price index, which measures inflation on the consumer level, will be released.
Later Tuesday morning, the Fed will release the November read on industrial production and capacity utilization, which are expected to increase to 0.5% and 71.1% from 0.1% and 70.7% in October, respectively.
On the earnings front,
is set to report third-quarter earnings before the start of trading Tuesday, while
is on tap to release results after the closing bell.
On average, analysts expect
will report a profit of 43 cents a share, up from 35 cents a share in the year-ago period, while sales should total $11.98 billion in the quarter.
, meanwhile, is expected to report earnings of 37 cents a share on $752.5 million, according to analysts polled by Thomson Reuters. In October, the company reiterated its forecast for a profit of 33 cents to 39 cents a share on an adjusted basis, and for sales to come in between $690 million and $740 million.
-- Written by Robert Holmes in Boston
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