Economic Events on October 29, 2010

At 8:30 AM EDT, the Employment Cost Index for the third quarter of 2010 will be announced.  The consensus is an increase of 0.5%, which is the same as the second 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 2.0% in real GDP and an increase of 2.0% in the GDP price index.  The real GDP estimate is slightly higher than the final estimate for the previous quarter, and these levels indicate moderate economic growth.

At 9:45 AM EDT, the Chicago PMI Index for October will be announced.  The consensus index value is 57.6, which is 2.8 points lower than last month, but is still well above the break-even level at 50.

At 9:55 AM EDT, Consumer Sentiment for the second half of October will be announced.  The consensus is that the index will be at 68, which is 0.1 points higher than the value reported in the first half of the month.

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

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