Today's calendar focuses on housing data and Hewlett-Packard's earnings release.

The Commerce Department will release October housing starts at 8:30 a.m. ET. The report is expected to show an annualized reading of 840,000, down from 872,000 the previous month. Economists expect that building permits released at the same time will fall to 870,000 from the previous total of 894,000.

The other big event comes before the bell when computing giant Hewlett-Packard, a member of the Dow Jones Industrial Average, releases results for its fiscal fourth quarter.

Tomorrow's schedule is more active, with weekly jobless claims and consumer sentiment on the docket. Tractor maker Deere will also report earnings.

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