A weekly briefing on the economic calendar:
Notable earnings reports: 3M, Bank One, Citigroup, General Motors, Washington Mutual.
The Census Bureau of the Department of Commerce announces housing starts and building permits for December. Starts are a measure of the number of residential units on which construction is begun each month, and permits represent the number of new excavations authorized. November housing starts showed an increase of 4.5 percent, and building permits decreased 5.4 percent.
Notable earnings reports: CDW, Fannie Mae, General Dynamics, Merrill Lynch.
Initial unemployment claims for the previous week are released. Because of its volatility, this report provides a timely, but often misleading, indicator of the direction of the economy.
The Conference Board releases its leading economic indicators report. It is, for the most part, a compendium of previously announced economic indicators: new orders, jobless claims, money supply, average workweek, building permits and stock prices.
Notable earnings reports: AT&T;, Bell South, Ford, Nokia, Tellabs.
Notable earnings reports: Caterpillar, ITT, Northwest Air, Peoples Energy.