@ The White House
On the third day of his American Jobs Act bus tour, the President will be in Virginia where he will discuss jobs and the economy.
In the morning, the President and the First Lady will hold an event at Joint Base Langley-Eustis in Hampton, Virginia where they will deliver remarks on the importance of hiring American veterans.
In the afternoon, the President will deliver remarks at Fire Station 9 in North Chesterfield, Virginia where he will call on Congress to pass the American Jobs Act piece-by-piece, beginning with the proposal to provide funding to prevent teacher layoffs and hire police officers and firefighters. Later, the President will return to Washington, DC.
@ Wall Street
Companies like Abbott Laboratories, AMR, Bank of New York Mellon, BlackRock, Morgan Stanley, United Technologies, U.S. Bancorp, American Express, eBay and E*Trade Financial will release their quarterly results.
Consumer Price Index (Sep.): Although pump prices fell slightly in September, they didn't drop as much as seasonally normal, hence they will show a seasonally-adjusted increase. Food prices won't help, rising by the same 0.3% as the total. Core inflation should hold steady at 0.2%.
Housing Starts and Building Permits (Sep.): Recent housing permits figures point to a pickup in housing starts in September. We expect starts to climb 2.6% to a 586,000 annual rate. Permits will probably slip back this month, though, because the economy is still struggling and August?s permits numbers look high relative to their recent trend. The key number to watch in this report will be single-family permits, which have gradually improved from a low point of 382,000 in February to 418,000 in August. A strong increase (which we are not expecting) would point to a long-awaited recovery in housing construction.
