European Markets are called to open lower this morning.
Asian Markets are trading lower in the current session.
Stocks ended sharply lower Friday, as bad news out of Europe kept piling up. The day’ steep losses pushed all three indexes to end in the red for the week. The Dow declined more than 2%, the S&P fell 1.7% and the Nasdaq slipped 0.5%.The sell-off triggered the sixth weekly decline in seven weeks for the Dow and S&P 500.
Events this week
Monday: Investors will anxiously await Bank of America (BAC, Fortune 500) CEO Brian Moynihan’ 9 a.m. presentation at the Barclays investors conference in New York for any insights into the bank’ plans.
Tuesday: A report on August’ import and export prices is due in the morning.
Big-box retailer Best Buy (BBY, Fortune 500) will report quarterly earnings before the opening bell.
Wednesday: The Producer Price Index, a measure of wholesale inflation, is due out from the Commerce Department ahead of the opening bell. The index is expected to have stayed the same in August after rising 0.2% in July. The so-called core PPI, which strips out volatile food and energy prices, is expected to have risen 0.2% after increasing 0.4% the previous month.
Economists expect the Commerce Department to report that retail sales rose 0.2% in August after a 0.5% rise the previous month, according to consensus estimates gathered by Briefing.com. Sales excluding volatile autos are expected to have ticked up 0.3%.
No ‘F’ in VIX. It measures volatility, not fear.
The July reading on business inventories, due from the government later in the morning, is likely to show an increase of 0.5%.
Thursday: The U.S. consumer price index is expected to show that prices rose 0.2% in August, after rising 0.5% the previous month. Economists expect consumer prices excluding food and energy to inch up 0.2%, matching July’ uptick.
The government’ weekly report on initial claims for jobless benefits is expected to drop to 410,000, from 414,000 the previous week.
The Empire Manufacturing survey is also due before the start of trading. The regional reading on manufacturing is forecast to have risen to negative 4 in September from negative 7.7 in August, according to consensus estimates from Briefing.com.
Government data on industrial production and capacity utilization for August are also due before the market opens.
Also out at 10 a.m. ET in the morning is the Philadelphia Fed index for September, a regional reading on manufacturing. The index is forecast to fall to negative 10, up from negative 30.7 the previous month.
BlackBerry maker Research in Motion is scheduled to report earnings after the markets close.
Friday: Shortly after the opening bell, the University of Michigan will put out its initial reading on consumer sentiment in September. Economists expect the figure to move slightly higher to 56.3 up from 55.7.