@ The White House
In the morning, the President will receive the Presidential Daily Briefing in the Oval Office.
In the afternoon, the President will participate in an Ambassador Credentialing Ceremony in the Oval Office. At this event, the President will receive the credentials from foreign Ambassadors recently posted in Washington. The presentation of credentials is a traditional ceremony that marks the formal beginning of an Ambassador?s service in Washington.
Later in the afternoon, the President will meet with Secretary Geithner in the Oval Office. In the evening, the President will host a reception for the U.S. Conference of Mayors.
@ Wall Street
Producer Price Index (Dec.)
The Finished Goods PPI was likely unchanged in December as a minor dip in energy offset token gains in food and core commodities. Gasoline prices nudged lower after seasonal adjustment as did many oil-based products. Food prices firmed, but far less so than earlier in the year. Core items (excluding food and energy) probably drifted 0.1% higher with little to propel them now that commodity prices have softened.
Industrial Production (Dec.)
Overall industrial production was likely flat in December. Utility output was down as December was much warmer than normal. But higher vehicle output and increased production worker hours point to a 0.4% rebound in manufacturing after a soft November.
