Last week, President Obama and other world leaders convened in Russia for the G-20 economic summit, but hostilities in Syria dominated the discussion. The ongoing conflict in the Middle Eastern nation hobbled U.S. markets. A lukewarm jobs report at home showed that the country’s recovery continues to stumble along.
This week, Congress is scheduled to vote on a budget bill that could keep the government funded through the end of the year.
At 3 p.m., the Federal Reserve releases data on consumer credit for July. Consumer borrowing is projected to increase by $12.4 billion. In June, credit increased by $13.8 billion.
At 7:30 a.m., the National Federation of Independent Business releases its small-business optimism index for August. Analysts say small-business owners continue to feel hopeful about the economic recovery. The index is expected to rise to 95, from 94.
At 10 a.m., the July Job Openings and Labor Turnover (JOLTS) index is released. This index provides a more nuanced look at the state of employment in the country.
Wholesale trade data for July are due out at 10 a.m. Wholesale inventory is projected to rise by 0.3 percent, after a drop of 0.2 percent in June. Overall, analysts expect trade to increase by 0.5 percent after a rise of 0.4 percent in June.
Weekly jobless claims are forecast to rise to 330,000. Last week, claims hovered near a five-year low of 323,0000.
The import price index for August comes out at 8:30 a.m. Analysts expect the price of imported goods to rise by 0.5 percent after being up by 0.2 percent in July. Automobile import prices dropped by the most in 20 years in July.
The producer price index for August is due out at 8:30 a.m. This index is forecast to rise 0.2 percent after remaining flat in July.
Retail sales figures for August, also out at 8:30 a.m., are expected to increase 0.5 percent after a rise of 0.2 percent in July.
Finally, business inventory data for July are due out at 10 a.m. Analysts expect that inventories grew by 0.3 percent in July, after remaining unchanged in June.