Release Schedule (available at 9:15 a.m.)iProd down + CapU down!
This week has many fun & exciting econ releases, JUN Retail Sales being the biggest.
Despite PPI (flat), despite CPI (flat), despite EIA CO reserves (flat to increasing), despite housing starts & permits (OMG, they need to drop, but the market would see that as weakness) the second biggest econ event is JUN Industrial Production & Utilization.
I can't find non-Seasonally Adjusted numbers, so we'll just have to deal with what we have.
Given retail sales & consumer sentiment & inventory drops & no real good reason for everyone to order stuff I suspect production & utilization to both be down.
Prescient, eh?
Fly in the ointment: MAY DGO New Orders were up.
This may mean an increase in JUN iProd&CapU.
