Here’s a quick heads up from Christian Hill at Investor’s Daily Edge on economic and earnings data due this week…

Wednesday morning sees the release of the CPI and Core CPI Index at 8:30 am. The CPI Index is expected to post another increase from last month, no doubt due to rising food and energy costs. Core CPI is anticipated to equal last month, with a 0.20 percent increase.

The FOMC minutes from the June 25 meeting are released at 2 pm on Wednesday, and will be scrutinized by the market to glean any hint as to the direction the Fed will take at the next meeting. On Thursday, the Philadelphia Fed Index is released, and is expected to show continued contraction. The Index is a monthly survey of purchasing managers in the tri-state area, and if any positive spin can be put on the Index, it is that the contraction isn’t as bad as the previous month.

Thursday sees the release of the Building Permit and Housing Start reports. Building Permits are anticipated to show a small increase, essentially matching last month’s number. Housing Starts are expected to show a decrease of 7000 units, which would be surprising, as this is the time of the year when home construction really gets going in the northern states. With permits increasing, but starts decreasing, it may just signal a delayed start to this summers building season.

Earnings Calendar:

Monday: Gentech (DNA)
Tuesday: Intel (INTC), Johnson & Johnson (JNJ)
Wednesday:eBAY (EBAY), Wells Fargo & Company (WFC)
Thursday: Google (GOOG), JPMorgan Chase & Co (JPM), Merrill Lynch & Co. Inc.(MER), Microsoft Co.(MSFT), The Coca Cola Company (KO)
Friday: Citigroup Inc (C), Honeywell International Inc. (HON)

Source: A Significant Week for the Market