Tuesday Spotlight: Retail, Producer Price Data

• December 13, 2010, 5:54 PM ET

By Matt Phillips

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• 8:30 a.m. — Advanced retail sales data for November are due. The top-line numbers are expected to show a 0.5% increase, with the ex-autos number arriving at 0.8%. Last time, the headline numbers showed a 1.2% increase. That was the largest monthly jump since March and the fourth-consecutive month of increased spending. Excluding auto sales, which can be volatile from month to month, retail sales rose a more moderate 0.4% last time.

• 8:30 a.m. — The producer-price index, which measures how much manufacturers and wholesalers pay for goods and materials, is expected to show a seasonally adjusted headline gain of 0.8%. The core measure — which strips out food and energy prices — is expected to be a much more muted 0.2%. Last time, the headline number rose a seasonally adjusted 0.4% in October from a month earlier. Taking out food and energy prices, which can be volatile from month to month, wholesale prices fell 0.6% in October, the sharpest one-month drop in more than four years.

• 10 a.m. — Data on U.S. business inventories is expected to show a 1% increase in October. Last time, the Commerce Department reported that U.S. business inventories rose 0.9% in September from the prior month, to a seasonally adjusted $1.4 trillion.

• 2:15 p.m. — The interest rate decision from the Fed’s key rate setting committee is due. Of course, nobody expects a rate hike but all eyes will be on the language of the statement. “We are curious to see whether the Fed will say anything about the steep rise in yields since the announcement of QE2, and if so whether it will seek to tie in the increase with the firmer tone of much of the recent economic data,” wrote Ian Shepherdson, chief U.S. economist at High Frequency Economics.

• Also, an earnings report is due from Best Buy. See you then.

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Tuesday Spotlight: Case-Shiller, Bernanke Speaks

By Matt Phillips

9 a.m. — Case-Shiller home price data for September is set to be released. The index of home prices in 20 metropolitan areas is expected to rise 1% year-over-year. In August, the 20-metropolitan area index was up 1.7% versus the prior year.

9:45 a.m. — A report from the Chicago chapter of the Institute of Supply Management offers a read on the business climate in the midwest in November. The headline business barometer number is expected to arrive at 60, that’s a bit lower than last month, but still indicates expansion. Last month the the Institute for Supply Management-Chicago reported that its business barometer increased to 60.6 in October from 60.4 in September. That was the 13th straight month of economic expansion as the U.S. rebounds from the worst slowdown since the Great Depression.

10 a.m. — Consumer confidence readings for November are expected to improve as the headline reading jumps to 52.3, according to Wall Street group think. U.S. consumer confidence improved in October, but remained at historically low levels. The Conference Board, a private research group, said its index of consumer confidence rose to 50.2 in October from September’s revised 48.6.

3 p.m. — Fed Chairman Ben Bernanke is expected to participate in a “Conversation on the Economy” with business leaders at Ohio State University.

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On Deck Tuesday: Producer Prices, Wal-Mart, Home Depot

• November 15, 2010, 6:23 PM ET

By Matt Phillips

Economics:

• 8:30 a.m. — The headline producer price index data is expected to rise 0.9% ?for October. The core number is expected to rise a more modest 0.2%.

Earnings:

• Abercrombie & Fitch Co.
• Home Depot
• Wal-Mart Stores

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On Deck Tuesday: Piddling Economic Data, Some Earnings

By Matt Phillips

The thrill is gone. After last week’s fireworks from the elections and the jobs report and the Fed statement, there seems to be very little to look forward to this week. Here’s what’s on tap tomorrow.

Economics: Nothing big.

Earnings: A few reports …

• International Game Technology
• Marsh & McLennan Companies
• Rockwell Automation
• Sempra Energy
• Dean Foods

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On Deck Tuesday: Elections and Earnings

By Matt Phillips

Economics:

10 a.m. — The census bureau’s update of housing vacancies for the third quarter will offer fresh data on so-called shadow inventory. Moody’s Economy.com says “the homeowner vacancy rate reflects vacant homes that are for sale. It has fallen 0.4 of a percentage point from the peak in the fourth quarter of 2008. However, over the same period, the number of homes ‘vacant and held off the market’ has risen to a new high, reflecting the rise in repossessions. Including these homes—which more accurately portrays excess supply, since many will end up for sale—the vacancy rate has barely budged after peaking in the first quarter of 2009.”

All day — U.S. midterm elections.

Earnings: A fair amount, including …

• Clorox
• Electronic Arts
• Kellogg
• MasterCard
• Pfizer
• Wynn Resorts

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