@ The White House
In the afternoon, the President will arrive in Canberra, Australia.
Later, the President will participate in an official arrival ceremony and join Prime Minister Julia Gillard of Australia to sign a guest book at Parliament House in Canberra. There will be pool coverage of the arrival and the guest book signing.
After signing the guest book, the President will participate in a bilateral meeting with Prime Minister Julia Gillard of Australia at Parliament House. In the evening, the President and Prime Minister Gillard will hold a joint press conference at Parliament House. Later in the evening, the President will attend a Parliamentary Dinner at Parliament House.
Also tomorrow at 9:30AM ET, in Washington, DC, members of the President?s Export Council will meet at the White House. Secretary John Bryson, Ambassador Ron Kirk, Secretary Hilda Solis, Secretary Ray LaHood, Small Business Administrator Karen Mills, and Chairman of the Export-Import Bank Fred Hochberg will also participate in the meeting, along with White House Chief of Staff Bill Daley, Senior Advisor Valerie Jarrett, and other Senior Administration Officials.
The President?s Export Council will discuss progress being made to reach the President?s goal of doubling our nation?s exports over five years. The meeting will be livestreamed on www.WhiteHouse.gov/live.
@ Wall Street
Consumer Price Index (Oct.)
The October CPI should be unchanged, held down by lower energy prices.
Food will still be creating upward pressure, but a 3.1% drop in gasoline covers a multitude of pressures from other sources. Core inflation is expected to be positive but low, at a 0.1% rate; upward pressures have been relieved by a weak sales environment.
Industrial Production (Oct.)
Industrial production should climb 0.3% in October with modest strength being provided by electricity and motor vehicles, but with the bulk of the rise coming from basic manufacturing.
Core manufacturing is continuing to chug along and recorded a tolerable increase in production work-hours in October. The manufacturing sector is still only halfway back to its pre-recession peak, after hitting bottom over two years ago, so it still has a long way to go to reach "healthy".