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Economic First Look: Calm Before Earnings

By Michael McDonough

 About this article:
 The coming week's economic calendar is relatively quiet, especially compared to the hustle and bustle of last week. The Institute for Supply Management's non-manufacturing survey kicks off the week Monday, followed by Wednesday's consumer credit report, Thursday's jobless claims data, and Friday's U.S. trade statistics and consumer sentiment. The impact of this week's non-manufacturing ISM survey could be somewhat subdued because its release comes after June's employment report, negating the importance the ISM survey's employment index. But significant declines or advances in the survey's business activity index could help shift ailing market sentiment. This week's big headlines, however, will likely be driven by the start of second-quarter earnings season. Alcoa is scheduled to kick off earnings season on Wednesday. There is also a G8 summit taking place this week in Italy, which could produce some headlines. Here is the week's detailed calendar: Monday, July 6 10:00 a.m. EDT:...

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