U.S. stocks appear set to start the new week lower, as investors express caution following a rally that pushed stocks to nine-month highs.
There are no major economic reports scheduled for today, though investors are already looking ahead to a two-day meeting of Federal Reserve policymakers that begins Tuesday. The Fed’s latest rate announcement and economic statement comes on Wednesday at 2:15 pm ET.
Productivity and cost data will be released tomorrow. Along with the FOMC announcement on Wednesday, we will also receive international trade data, weekly oil inventories and the Treasury budget. The Commerce Department releases data on retails sales for July on Thursday and we will also get the latest weekly jobless claims number. The week ends with industrial production data, the Consumer Price Index, and the University of Michigan Consumer Sentiment survey.
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