There's Actually Important Economic Data Coming Out Today

Although today should be very quiet, it's actually a little bit stacked in terms of economic data.

Via Calculated Risk, here are the big 3 events. Each is pretty high up there in terms of things you want to pay attention to:

• At 9:00 AM ET, the S&P/Case-Shiller House Price Index for October. Although this is the October report, it is really a 3 month average of August, September and October. The consensus is for a 13.7% year-over-year increase in the Composite 20 index (NSA) for October.

• At 9:45 AM, the Chicago Purchasing Managers Index for December. The consensus is for a decrease to 61.3, down from 63.0 in November.

• At 10:00 AM, the Conference Board's consumer confidence index for December. The consensus is for the index to increase to 76.8 from 70.4.