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Today's economic calendar includes unemployment claims, housing data, e-commerce sales, and the Philadelphia Fed Survey.

In addition, after market closes, the SEMI book-to-bill ratio will be released. A reading in this semiconductor report that is at or above 1 indicates expansion, while a number below 1 indicates contraction.

Housing Starts data will be reported at 8:30 a.m. ET. The consensus forecast calls for a drop to 0.61 million units from last month's 0.658 million units. Estimates range from a bearish 0.575 million units to a more bullish 0.65 million units.

Jobless Claims data will also come out at 8:30 a.m. ET. The expectation is for a small rise to 395,000, up from last week's 390,000. Estimates range from bullish 382,000 to a bearish 405,000. Because this range is quite narrow, there is a better chance of a surprise result that could break either end.

The E-Commerce Retail Sales report will be released at 10 a.m. ET. There are no forecasts available for this quarterly report, which could move e-tail stocks such as Amazon.com. In the second quarter, sales rose 3 percent.

Also at 10 a.m. ET, the Philadelphia Fed Survey will be reported. The consensus expectation is for the survey to come in at 8, a drop from the previous month's 8.7. Estimates range from a bearish -1 to a bullish 14.3.

Source: Jobs, Homes, E-Commerce Data On Tap