Look ahead: Economic Calendar

A midday look ahead in preparation for economic reports and events scheduled for the next trading day.

Highlights: Wednesday will be very interesting. Durable Goods comes in pre-open, and should be very influential in one direction or the other with non-Durable Consumer Goods recently showing more strength. The noon hour’s end brings another auction in the post-downgrade world. We’ll see how the 5-year does following Tuesday’s 2-year auction.

Its reaction will also be a function of the FOMC meeting. FOMC is the big story. As if releasing its policy meeting’s decision at an unusual time won’t be disruptive enough, the announcement comes during the otherwise less liquid noon hour.

The decision comes early because the announcement’s normal time will instead be Bernanke’s first-ever press conference. During market hours. In the afternoon. All sorts of unusual characteristics that make the event very disruptive.

MBA Purchase Applications
7:00 AM ET

Durable Goods Orders
8:30 AM ET

EIA Petroleum Status Report
10:30 AM ET

FOMC Meeting Announcement
12:30 PM ET

Bernanke’s Post-FOMC Presser
2:15 PM ET

5-Yr Note Auction
1:00 PM ET