4 Major Economic Events Are Coming Up

Here's a quick preview of what's coming up today via Calculated Risk's Bill McBride:

• At 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for an decrease to 344 thousand from 360 thousand last week.

• At 10:00 AM, Testimony by Fed Chairman Ben Bernanke, Semiannual Monetary Policy Report to the Congress, Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate. The prepared testimony will be the same as delivered Wednesday, but the Q&A might be interesting.

• Also at 10:00 AM: the Philly Fed manufacturing survey for June. The consensus is for a reading of 9.0, down from 12.5 last month (above zero indicates expansion).

• Also at 10:00 AM, the Conference Board Leading Indicators for June. The consensus is for a 0.3% increase in this index.