Big morning coming up in terms of economic data, starting at 8:30.
- CPI: Analysts are looking for a number of 0.4%, but just 0.1% on the core, both of which are well below the 1.2% PPI we got earlier this week, which spells margin crimping. The market would love to see a “hot” number… some sign that end sellers are starting to see pricing power.
- Then of course is the controversial and big December retail sales. Ex-auto the market is looking for 0.6%, but bear in mind a number of retailers have already reported some results that have been a bit of a bummer.
Then at 9:15:
- Industrial production and capacity utilization. Industrial production is seen jumping 0.4%. Capacity utilization is expected to hit 75.5%.
Then at 9:55
- Michigan Consumer Sentiment: Consensus is for a reading of 75.5
And finally at 10:00
- Business inventories seen growing at 0.7%.
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