Economic Events on July 30, 2010

At 8:30 AM EDT, the Employment Cost Index for the second quarter of 2010 will be announced.  The consensus is an increase of 0.4%, which would be a decline of 0.2% compared to the first quarter of 2010.

Also at 8:30 AM EDT, the advance GDP report for the second quarter of 2010 will be announced.  The consensus is an increase of 2.5% in real GDP and an increase of 1.0% in the GDP price index.  The real GDP estimate is slightly lower than the final estimate for the previous quarter, but these levels indicate moderate economic growth.

At 9:45 AM EDT, the Chicago PMI Index for July will be announced.  The consensus index value is 56, which is 3.1 points lower than June, but is still well above the break-even level at 50.

At 9:55 AM EDT, Consumer Sentiment for the second half of July will be announced.  The consensus is that the index will be at 67, which would be a 0.5 improvement from the beginning of July, after a 10 point drop from the second half of June.

At 3:00 PM EDT, the Farm Prices report for July will be released, giving investors and economists an indication of the direction of food prices in the coming months.

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