Today’s weekly initial unemployment claims report is expected to show a decline of -9,000 to 345,000, reversing most of last week’s +10,000 increase to 354,000. Meanwhile, today’s continuing unemployment claims report is expected to show a decline of -13,000 to 2.973 million, reversing part of last week’s rise of +63,000 to 2.986 million. The ECB at its meeting today is virtually certain to leave its monetary policy unchanged. The ECB just cut its refinancing rate by 25 bp to 0.50% at its last meeting in May. The Bank of England at its policy announcement today is expected to leave the base rate unchanged at 0.50% and its asset purchase target unchanged at 375 billion pounds. There are four of the Russell 1000 companies that report earnings today: UTi Worldwide (consensus $0.03), JM Smucker (1.16), Cooper Companies (1.38), and Thor Industries (0.88).
Conferences during the remainder of this week include: Exploratory Clinical Development World Europe on Wed-Thu, ABAC 2013 Global Third Party Diligence, Audit and Oversight on Wed-Thu, IVT's Microbiology Week on Wed-Thu, NAREIT REITWeek Investor Forum on Wed-Thu, Credit Suisse Engineering & Construction Conference on Thu, Argus North American Crude Transportation Summit: New Pathways to the Market on Thu-Fri, Fortune Global Forum 2013 on Thu-Fri, Sandler O'Neill & Partners Global Exchange and Brokerage Conference on Thu-Fri.
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