The government is set to release several economic indictors this week including the index for inflation, housing starts and building permits, producer’s price index, capacity utilization and weekly unemployment level.

The index in the last six months has shown low inflation as measured by the Consumer Price Index. The CPI for July, ex food and energy cost, is likely to be at or below 0.2% following 0.1% rise in June.

Higher food and energy prices are passed on to consumer by gasoline and groceries stores but manufactured goods are still discounted. The computers, electronics and automobiles are still selling at or below prices registered last year. Commodities including oil, copper, iron ore and coal are trading near all-time high.

July prices paid to producers for finished goods is likely to jump 0.5% and prices paid to factories and farmers is likely to be 0.1% higher after declining 0.1% in June according to Bloomberg Survey.

Despite Fed’s raising short-term interest rates for the 10th time in less than 30 months the long-term mortgage rates are at the same level when the Fed began raising interest rates. Housing starts to be released this week on Tuesday is to reflect higher activity at more than 2 million units.

On earnings front retailers and tech companies are to dominate the schedule. The several discounters, teenage retailers and luxury retailers are scheduled to show higher earnings than a year ago.


TECH COMPANIES

Hewlett Packard leading technology company is expected to report earnings at the close of market on Tuesday. The analysts estimate 31 cents vs. 24 cents a year ago on revenue of $20.5 billion. The company stock has delivered 20% in the last three months.

Gateway Inc, Personal Computer maker is expected to release earnings this Monday after the close. The 2Q earnings are estimated at 2 cents vs. loss of 13 cents a year ago on revenue of $895 million.

JDS Uniphase, fiber optic technology vendor is expected to deliver 2 cents loss vs. loss of one penny a year ago on revenue of $167 million. The company’s stock has gained 10% in the last three months and lost 50% in the last twelve months.

Brocade Communication, data storage networking manufacturer, is expected to earn a cent vs. 6 cents profit a year ago on revenue of $121 million. The stock has lost 18% in the last twelve months and been flat in the last three months.

The Sonic Solutions Inc is expected to release earnings after the close on Monday. The 2Q earning is estimated at 14 cents vs. 16 cents a year ago on revenue of 33 million. The company of $440 million market cap share has jumped 13% in the last three months.


RETAILERS

Several retailers are scheduled to release earnings on Tuesday. Staples, Home Depot, American Eagle Outfitters, TJX, Abercrombie & Fitch, Books-A-Million and Nordstrom.

Women’s apparel retailer Limited Brands is set to report earnings on Thursday before the opening. Analysts are looking for the company to earn 24 cents vs. 29 cents a year ago on revenue of $2.24 billion. The $10 billion market company stock has jumped 20% in the last three months and 32% in the last one year.

American Eagle Outfitters is scheduled to release its earnings on Tuesday morning before the bell. The analysts are looking the teen-age retailer to report 36 cents vs. 22 cents a year ago on revenue of 508 million. The stock has jumped 16% in the last three months.

The office supplies retailer Staples Inc earnings are estimated at 19 cents vs. 16 cents a year ago on revenue of $3.45 billion. The $16 billion market company’s stock has gained 9% in the last three months of trading.

Home Depot, home improvement retailer with 1,900 stores, is expected to release earnings on Tuesday before the bell. The company is estimated to release earnings of 79 cents vs. 70 cents a year ago on revenue of $22.04 billion. The last three months’ stock performance is 19% gain.