Today's economic calendar will include mortgage data, import and export prices, wholesale inventories, oil supplies, and the beginning of the Federal Open Market Committee's monthly two-day meeting.
The day begins with the weekly MBA mortgage-purchase applications at 7 a.m. ET. There are no forecasts for this report, which showed a reading of -2.5 percent in the previous week.
Export prices for August will come out at 8:30 a.m. ET. The consensus expectation is for prices to remain unchanged at 0.5 percent. Estimates range from zero to 0.9 percent.
Import prices will be released at the same time, with the consensus forecast calling for a 1.5 percent gain in August, up from July's -0.6 percent. The range of expectations is from 0.4 percent to 1.9 percent.
July wholesale inventories are scheduled for 10 a.m. ET. The consensus estimate is a rise of 0.4 percent from June's -0.2 percent, within a range of zero to 0.8 percent.
The weekly EIA petroleum inventories will be reported at 10:30 a.m. ET release. The previous week's release showed a draw of -7.426 million barrels.
A 10-year Treasury note auction is the last scheduled event of the day, at 1 p.m. ET.
Tomorrow's calendar will be focused on the Fed's meeting announcement at 12:30 p.m. ET, followed by Chairman Ben Bernanke's press conference at 2:15 p.m. ET.
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