By Bryan McCormick
There are only three items on the economic calendar today, but two of those reports--same-store sales and unemployment claims--are likely to be market movers.
Chain Store Sales, also known as same-store sales, will be released today. There is no fixed timetable for the release, as each company reports results independently beginning in the early pre-market and sometimes continuing up to the open. In addition to individual stocks, the SPDR S&P Retail and Retail HOLDRs exchange-traded funds are likely to be active.
At 6 a.m. ET, the Monster Employment Index will be reported. The index tracks online help-wanted advertising and is therefore seen as a leading indicator of employment trends. The June release, which came out at the start of July, had an index value of 146. A drop below 140 would likely be seen as bearish, while a reading above 150 would be bullish.
Jobless Claims will be released at 8:30 a.m. ET. Consensus calls for initial claims to rise to 405,000. That would be an increase from the previous week's 398,000. The forecasts range from a bullish 385,000 to a bearish 420,000.