U.S. Producer Prices Might Increase By This Much In June, Here's The Major Macro Issues For Thursday

U.S. stocks closed lower on Wednesday as investors are awaiting earnings reports from JPMorgan Chase & Co. JPM and Morgan Stanley MS, due to be released today.

Below is a look at the major economic reports scheduled for release today.

• Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Analysts expect jobless claims coming in at 234,000 for the July 9 week, compared to 235,000 in the previous week.
• The Producer Price Index for June is scheduled for release at 8:30 a.m. ET. Producer prices are projected to rise 0.8% on the month in June to match May's growth. The annual rate, however, is seen easing to 10.4% from 10.8%.
• The Energy Information Administration’s weekly report on natural gas stocks in underground storage will be released at 10:30 a.m. ET.
• The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.

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