It has been an excruciatingly quiet week for economic data and earnings announcements.
And stock markets have mirrored this calm, trading within a historically narrow range.
However, there are some pretty big economic reports coming out today that could change all of that.Here’s a round up from Calculated Risk’s Bill McBride:
• At 8:30 AM ET, the NY Fed will release the Empire State Manufacturing Survey for February. The consensus is for a reading of minus 2.0, up from minus 7.8 in January (below zero is contraction).
• At 9:15 AM, the Fed will release Industrial Production and Capacity Utilization for January. The consensus is for a 0.3% increase in Industrial Production in January, and for Capacity Utilization to increase to 78.9%.
• At 9:55 AM, the Reuters/University of Michigan’s Consumer sentiment index (preliminary for February)will be released. The consensus is for a reading of 75.0, up from 73.8.
Any one of these reports could change the way we think of the trajectory of the economy.