Wall Street Scrutinizes Key Economic Data

Economic data are expected to take a back seat to corporate results, but Wall Street experts will watch for some key economic reports, including data on retail sales, consumer prices, industrial production, weekly jobless claims and a closely watched gauge of consumer sentiment.

The Federal Reserve’s “Beige Book” report, the central bank’s anecdotal take on the U.S. economy, also will catch Wall Street’s eye Wednesday, when it is scheduled for release.

Economists on average also expect the consumer price index, due out Wednesday, to have remained flat overall in December, while it rose 0.1% excluding volatile food and energy prices, the poll showed.

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Other economic data due this week:

* Tuesday, the Commerce Department will report on December retail sales.

* Wednesday, the Commerce Department will report on business inventories for December.

* Thursday, the Commerce Department will report on housing starts for December and the year.

* Friday, the University of Michigan will release its preliminary index on consumer confidence report in January.