US Goods Deficit Might Widen To This Much In September, Here Are The Major Macro Issues For Wednesday

U.S. stocks closed higher on Tuesday with the Nasdaq Composite jumping more than 200 points amid gains in Microsoft Corporation MSFT and Apple Inc AAPL shares.

Let’s have a look at the major economic events scheduled for today.

• The MBA's index of mortgage application activity for the latest week is scheduled for release at 7:00 a.m. ET.
• Data on international trade in goods for September will be released at 8:30 a.m. ET. The US goods deficit is projected to widen to $87.8 billion in September after narrowing to $87.3 billion in August.
• Data on wholesale inventories for September will be released at 8:30 a.m. ET. Analysts expect wholesale inventories rising 1.1% in the advance report for September compared to a 1.3% increase in August.
• Data on new home sales for September will be released at 10:00 a.m. ET. Analysts expect new home sales coming in at a 585,000 rate in September following a 685,000 annualized rate in the previous month.
• The State Street Investor Confidence Index for October is schedule for released at 10:00 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 10:30 a.m. ET.
• The survey of business uncertainty report for October will be released at 11:00 a.m. ET.
• The Treasury is set to auction 5-year notes at 1:00 a.m. ET.

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