The main economic report on today's calendar is the Chicago Fed National Activity Index at 8:30 a.m. ET.
It is one of two regional Fed surveys this week, the other being the Kansas City Fed Manufacturing Index on Thursday. Economic data from the central bank is under close scrutiny as traders look for clues that could indicate the direction of the Fed's monetary policy.
The weekly ICSC-Goldman Store Sales will be released at 7:45 a.m. ET, followed by the Redbook retail numbers at 8:55 a.m. ET, though these reports typically do not sway market sentiment. A larger impact on the retail sector may come from some key earnings announcements this morning.
Companies expected to report before the opening bell include Home Depot, Best Buy, J.C. Penney, Barnes & Noble, and Dick's Sporting Goods. Quarterly results are scheduled tomorrow morning from Lowe's, American Eagle Outfitters, and Toll Brothers.
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