Economic Data Scheduled For Wednesday

• The MBA's index of mortgage application activity for the latest week is scheduled for release at 7:00 a.m. ET.
• Data on retail sales for May will be released at 8:30 a.m. ET. Retail sales, came in above estimates in April, increasing 0.9% overall. Analysts, however, expect a 0.1% gain in overall sales for May.
• The Empire State manufacturing index for June will be released at 8:30 a.m. ET. The Empire State index is expected to recover back into positive ground at 5.5 in June, following May's decline to minus 11.6.
• Data on import and export prices for May will be released at 8:30 a.m. ET. Import and export prices slowed substantially in April. Analysts expect a 1.2% rise in import prices, while export prices are seen increasing 1.3% in May.
• Data on business inventories for April will be released at 10:00 a.m. ET. Analysts expect business inventories rising 1.3% in April following a 2.0% build in the previous month.
• The housing market index for June is scheduled for release at 10:00 a.m. ET. The index is projected to decline to 68 in June from 69 in the previous month.
• The Atlanta Fed's Business Inflation Expectations survey report for June will be released at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is scheduled for release at 10:30 a.m. ET.
• The Federal Reserve is set to announce its policy decision at 2:00 p.m. ET. The Fed is projected to increase its fed funds target range by 50 basis points.
• The Fed Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.
• The Treasury International Capital report for April will be released at 4:00 p.m. ET.

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