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Wall Street & The White House Agenda

@ The White House

In the morning, the President and the Vice President will receive the Presidential Daily Briefing in the Oval Office. Later in the morning, the President will meet with senior advisors in the Oval Office.

@ Wall Street

New data on durable-goods orders are scheduled to be released. Orders are expected to have risen a modest 0.3 percent in June, after stronger growth in May. Drawing conclusions from the numbers can be difficult because of disruptions to supply chains due to Japan?s March earthquake, but ultimately the kinds of big-ticket items counted in this data will be a key to any strengthening of the U.S. economy.

Also Wednesday, the Federal Reserve will release its beige book, a compilation of information from businesses across the country about the business prospects they are encountering. The report is likely to show evidence of weak growth in recent weeks. Pay attention to what the book says about business confidence amid political stalemates in Washington and European capitals.