Tuesday:
Economic Reports: PPI, Core PPI, Retail Sales.

Are we beginning to see inflation creep in? Those were my thoughts after the January and February reports showed increases in the PPI. But this month’s reports are expected to stay flat. The Core PPI report which excludes food and energy costs is expected to post a slight increase. The figure has been increasing every month since January, but the increase is slowing every month. So with both these reports remaining relatively the same, inflation seems to be held in check at least for now.

Retail Sales for March are announced at 8:30 am, and somehow, someway, they are expected to show an increase versus February. I’m not sure where this jump is coming from, so I will be curious to see the data when it is released.

Earnings Announcements: CSX, GS, INTC, JNJ

Wednesday:
Economic Reports: CPI, Core CPI, Industrial Production, Fed Beige Book

Much of what I said above about the PPI reports applies to the CPI and Core CPI reports released today. Both are expected to show increases, but a smaller increase than the last few months. Inflation is still being held in check.

Industrial Production is unfortunately expected to show further declines. While this pace is also slowing, it is still not encouraging that we are still seeing a decline at all. Until factories get back to increased production, the economy is going to struggle.

While it does not come with an expected number, the Fed Beige Book still garners attention when it is released. It gathers insight from the twelve Fed regions relating to their individual outlooks on their region. This is combined to give an overall national outlook. Hopefully at least a few regions will begin to show some positive economic signs.

Earnings Announcements: ABT

Thursday:

Economic Reports: Building Permits, Housing Starts, Philadelphia Fed

Housing is back in the news on Thursday. March Building Permits are expected to show a slight increase, while Housing Starts in March are expected to show a much larger decline. After a few months of the market expecting increases and being disappointed for the most part, this month seems a lot more realistic. I expect both these reports to be in line with expectations.

The Philly Fed report also comes out Thursday, and it looks like the manufacturing sector is facing continued slowdowns. As I mentioned with the Industrial Production report, manufacturing needs to get going to help bolster the economy. It looks like that’s not happening anytime soon, based on how far down this reading has slipped.

Earnings Announcements:  BAX, GOOG, HOG, JPM

Friday:

Economic Reports: Michigan Sentiment

It looks like consumers are at least starting to feel better. While this reading would be encouraging if it holds true (consumers need to feel positive about things in order to spend money), we could still be a long way from a real turnaround.

Earnings Announcement: C, GE

Source: Inflation, Retail, and Housing Reports; Earnings Go Full Bore