What to Watch Wednesday: Consumer Price Index, Housing Starts Key Data

In 'What to Watch on Wall Street' for Wednesday January 20, there are a few notable economic reports due out. The morning is jam packed with the consumer price index and housing starts coming out at the same time. Then shortly after, we get the Redbook. Out of these figures, investors will be focusing on two key reports--the consumer price index, released by the U.S. Bureau of Labor Statistics and housing starts, released by the Commerce Department. The consumer price index measures what Americans paid--from clothes to computers, and for the month of December, economists are estimating for a 0.2 percent gain. TheStreet's U-Jin Lee reports from New York.