US Wholesale Inventories Might Rise By This Much In August, Here Are The Major Macro Issues For Wednesday

U.S. stocks closed mixed on Tuesday with the Nasdaq Composite gaining 0.25% amid a rise in Apple Inc. AAPL shares.

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

• The MBA's index of mortgage application activity for the latest week is scheduled for release at 7:00 a.m. ET.
• Data on international trade in goods for August will be released at 8:30 a.m. ET. The US goods deficit is likely to narrow to $88.7 billion in August from $90.2 billion in the previous month.
• Data on wholesale inventories for August will be released at 8:30 a.m. ET. Analysts expect wholesale inventories rising 0.4% in the advance report for August compared to a 0.6% increase in July.
• Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 8:35 a.m. ET.
• The pending home sales index for August is scheduled for release at 10:00 a.m. ET. Pending home sales are expected to drop 0.8% in August.
• The State Street Investor Confidence Index for September is scheduled for release at 10:00 a.m. ET.
• Federal Reserve Bank of St. Louis President James Bullard will speak at 10:10 a.m. ET.
• Federal Reserve Chair Jerome Powell is set to speak at 10:15 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
• Federal Reserve Governor Michelle Bowman will speak at 11:00 a.m. ET.
• The survey of business uncertainty report for September is scheduled for release at 11:00 a.m. ET.
• The Treasury is set to auction 7-year notes at 1:00 p.m. ET.
• Federal Reserve Bank of Chicago President Charles Evans is set to speak at 2:00 p.m. ET.

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