Good morning from snowy, frozen Canada.
We have a four-pack of economic data releases due at the bottom of the hour:
- Initial jobless claims
- Philly Fed
- Canadian PPI
- Canadian new housing price index
There has been some hand-wringing about pricing numbers in the regional Fed manufacturing surveys but the main release to watch is initial jobless claims, which are expected at 215K from 213K prior. In the Philly Fed, expect tariff worries and front-running of possible costs to be a big skew.
Later we get weekly oil inventories, a 30-year TIPS auction and comments from the Fed’s Goolsbee at 935 pm ET and Musalem at 12:05 pm ET.