Options Trading News

June 14, 2013  Fri 2:14 AM CT

Today's calendar features three relatively minor economic reports: producer prices, industrial production, and consumer sentiment.

The Labor Department will announce the producer-price index at 8:30 a.m. ET. Economists expect gains of 0.1 percent on both the headline and core numbers. Inflation generally hasn't been a worry recently, so it's unlikely to affect market sentiment.

Industrial production for May, released by the Federal Reserve, follows at 9:15 a.m. ET. Economists expect growth of 0.1 percent, compared with a decline of 0.5 percent in April. The report usually doesn't affect trading because it relates to a month that's been covered by earlier reports.

Consumer sentiment at 9:55 a.m. ET is perhaps the most important of the three because it's the most current. Forecasts look for a reading of 83, down from 84.5 in May.

Next week's agenda includes the New York Fed's Empire Manufacturing index and homebuilder sentiment on Monday. Germany's Zew survey of financial conditions, consumer prices, and housing starts follow on Tuesday.

Wednesday brings the Fed's key interest-rate decision, while Thursday features European industrial data and weekly jobless claims.
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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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