U.S. Consumer Prices Seen Easing In July, Here Are The Major Macro Issues For Wednesday

U.S. Consumer Prices Seen Easing In July, Here Are The Major Macro Issues For Wednesday

The Nasdaq closed lower on Tuesday after Micron Technology, Inc. (NASDAQ: MU said its Q4 revenue may come in at or below the low end of its guidance range provided in its June earnings call.

Let’s have a look at the major economic reports scheduled for release today.

  • The MBA's index of mortgage application activity for the latest week is scheduled for release at 7:00 a.m. ET.
  • The Consumer Price Index for July will be released at 8:30 a.m. ET. Consumer prices, which have been rising sharply in the recent period, are expected to increase by just 0.2% in July, compared to June's 1.3% headline surge. Year-over-year rates are likely to increase 8.7% overall, versus June's 9.1% surge.
  • Data on wholesale inventories for June will be released at 10:00 a.m. ET. The second estimate of wholesale inventories is an increase of 1.9% in June, which is unchanged versus the first estimate.
  • The Atlanta Fed's Business Inflation Expectations survey report for August will be released at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.
  • Federal Reserve Bank of Chicago President Charles Evans is set to speak at 11:00 a.m. ET.
  • The Treasury will auction 10-year notes at 1:00 p.m. ET.
  • The U.S. Treasury budget statement for July will be released at 2:00 p.m. ET. Analysts expect a $162.0 billion deficit for July, versus an $88.8 billion deficit in June and compared to a year-ago deficit of $302.1 billion.

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Posted In: Economic DataNewsEconomicsPre-Market OutlookMarkets