The key economic reports this week are October Retail Sales, Housing Starts, and the Consumer Price Index (CPI).
For manufacturing, October industrial production, and the November New York, and Philly Fed manufacturing surveys, will be released this week.
The FOMC meets on Tuesday and Wednesday, and the FOMC is expected to raise rates at this meeting.
No economic releases are scheduled.
6:00 AM ET: NFIB Small Business Optimism Index for November.
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
8:30 AM ET: Retail sales for November will be released. The consensus is for 0.4% increase in retail sales in November.
This graph shows retail sales since 1992 through October 2016.
8:30 AM: The Producer Price Index for November from the BLS. The consensus is for a 0..2% increase in prices, and a 0.2% increase in core PPI.
9:15 AM: The Fed will release Industrial Production and Capacity Utilization for November.
This graph shows industrial production since 1967.
The consensus is for a 0.2% decrease in Industrial Production, and for Capacity Utilization to decrease to 75.0%.
10:00 AM: Manufacturing and Trade: Inventories and Sales (business inventories) report for October. The consensus is for no change in inventories.
2:00 PM: FOMC Meeting Announcement. The FOMC is expected to increase the Fed Funds rate 25 bps at this meeting.
2:00 PM: FOMC Forecasts This will include the Federal Open Market Committee (FOMC) participants’ projections of the appropriate target federal funds rate along with the quarterly economic projections.
2:30 PM: Fed Chair Janet Yellen holds a press briefing following the FOMC announcement.
8:30 AM ET: The initial weekly unemployment claims report will be released. The consensus is for 255 thousand initial claims, down from 258 thousand the previous week.
8:30 AM: The Consumer Price Index for November from the BLS. The consensus is for 0.2% increase in CPI, and a 0.2% increase in core CPI.
8:30 AM ET: The New York Fed Empire State manufacturing survey for December. The consensus is for a reading of 3.0, up from 1.5.
8:30 AM: the Philly Fed manufacturing survey for December. The consensus is for a reading of 10.0, up from 7.6.
10:00 AM: The December NAHB homebuilder survey. The consensus is for a reading of 63, unchanged from 63 in November. Any number above 50 indicates that more builders view sales conditions as good than poor.
8:30 AM: Housing Starts for November.
Total housing starts increased to 1.323 million (SAAR) in October. Single family starts increased to 869 thousand SAAR in October.
The consensus is for 1.230 million, down from the October rate.
10:00 AM: Regional and State Employment and Unemployment (Monthly) for November 2016