What Traders Will Be Watching Wednesday
Traders will be looking ahead to a batch of economic reports Wednesday for further indication on the strength of the economy and will continue to closely watch headlines from the euro zone.
On the economic front, investors will be watching the monthly producer price index and the retail sales numbers at 8:30 am ET.
Also, the Commerce Department is scheduled release the latest numbers for business inventories, a key component of gross domestic product, at 10 am ET.
Weekly oil inventories are expected at 10:30 ET.
And the government is scheduled to auction $21 billion in 10-year notes with the results available shortly after 1pm ET. This comes after a relatively weakthree-year note auction.
JPMorgan CEO Jamie Dimon is scheduled to testify before the U.S. Senate Banking committee, a month after the bank revealed a failed hedging strategy that produced a loss of at least $2 billion.
Stocks closed higher Tuesday, wiping out most of the previous day's declines, but investors remained cautious amid the ongoing uncertainty in the euro zone.
What to Watch This Week (All times below are ET):
0700 am Mortgage applications
0830 am PPI
0830 am Retail sales
1000 am Business inventories
0100 pm $21 billion 10-year note auction
0830 am Jobless claims
0830 am Current account
0830 am CPI
0100 pm $13 billion 30-year bond auction
0830 am Empire State survey
0900 am TIC data
0915 am Industrial production
0955 am Consumer sentiment
—By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)
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