European Markets are called to open negative this morning.
The euro weakened against the dollar for a second day, while Asian stocks dropped after European policy makers failed to introduce a plan to stem the region’s debt crisis. Gold rose and copper retreated to a six- week low.
All eyes will focus on Federal Reserve Chairman Ben Bernanke and his team of nine as they spend two days mulling over what monetary policy levers to pull to give the stalled U.S. economy a boost.
Events this week
Monday: After the start of trade, the National Association of Home Builders and Wells Fargo will release a report with their housing affordability index. Economists polled by Briefing.com expect the reading stayed flat at 15 in January.
Home builder Lennar will report its quarterly earnings before the bell.
Tuesday: The Federal Reserve begins its two-day interest rate policy setting meeting with a decision expected Wednesday afternoon.
Auto retailer AutoZone and consumer food company ConAgra report their earnings before the bell.
Tech companies Adobe Systems and Oracle report earnings after the bell.
In economic data, Wall Street will get August housing starts and building permits from the Commerce Department at 8:30 a.m. ET.
Wednesday: The Mortgage Bankers Association will release its index of mortgage applications for the week ended September 17.
The National Association of Realtors will release their August existing home sales data as well.
The weekly crude oil inventories report is also due in the morning.
Before the bell, General Mills will report quarterly results. After the bell retailer Bed Bath & Beyond will report results.
Thursday: The Labor Department issues its weekly jobless claims data at 8:30 a.m. ET. Economists surveyed by Briefing.com expect weekly jobless claims rose to 417,000 claims last week compared with 428,000 claims reported the prior week.
The Federal Housing Finance Agency releases its July home price index after the start of trading.
The Conference Board’ index of leading economic indicators is due in the morning. The index is expected to have risen 0.1% in August after having risen 0.5% in July, according to a consensus of economists surveyed by Briefing.com.
FedExand Rite Aid will report results ahead of the opening bell. Sports apparel company Nike will report results after the bell.
Friday: There are no major economic events. Homebuilder KB Home will report results before the open.