Indicators to Watch this Week.
•Consumer pulse: Retail sales figures come out Tuesday pre-market (8:30 a.m.) and the closely watched Michigan Consumer Sentiment Index is released Friday morning (9:55 a.m.). A declining consumer sentiment figure is considered an early signal of a coming downturn in the economy.
• Inflation/deflation watch: How much we might be paying for things in the future is reflected in the Producer Price Index (Thursday 8:30 a.m.), a measure of consumer goods and capital equipment early in the production process. How much we just paid shows up in the Consumer Price Index (Friday 8:30 a.m.). Watch the food inflation breakout, say the experts, for its effect on commodity prices, including gold and other metals.
• Factory output: Industrial production (9:15 a.m. Wednesday) got a bit of a pop recently on longer hours at the nation’s auto factories. As the U.S. jobless rates grind higher, it might be up to exporters to keep American factories humming, an open question if the dollar holds its ground against cheaper foreign currencies.
• Debt questions: On Thursday (9 a.m.), Treasury will release capital flows (TIC) data, including data on foreign holders of U.S. Treasuries. China has stepped up purchase of other countries’ debt. Will Uncle Sam stay on the Beijing’s “buy” list?
• Major earnings: Best Buy, Cracker Barrel, Kroger, Pall Corp. (Tuesday), Zale, Clarcor, Dress Barn (Wednesday), Discover Financial, FedEx, Pier 1 Imports, Herman Miller, Oracle, Research in Motion (Thursday). MoneyNews.com