Economy
Monday: January personal income is expected to have declined by 0.3% after falling 0.2% in the previous month, according to a consensus of economists surveyed by Briefing.com. But spending is expected to have risen by 0.3% after falling 1% in December. The Core PCE deflator, the report's inflation component, is expected to have risen by 0.1% versus a flat reading in December.
Construction spending is expected to have fallen 1.5% in January after dropping 1.4% in the previous month.
The ISM manufacturing index is expected to have declined to 34 from 35.6 in January, remaining in recessionary territory.
Tuesday: The pending home sales index for January is expected to have fallen 3% after rising 6.3% in the previous month.
Wednesday: Payroll processing firm ADP releases its monthly employment report before the start of trading. Private-sector employers are expected to have cut 613,000 jobs in February after cutting 522,000 in the previous month.
Separately, outplacement firm Challenger, Gray & Christmas releases its February report on planned job cuts.
The ISM services sector index, due after the start of trade, is expected to have fallen to 41.3 from 42.9 in February.
Wednesday also brings the government's weekly oil inventories report and the Fed's periodic "beige book" reading on economic activity.
Thursday: Factory orders in January are expected to have fallen 2.1% after having fallen 3.9% in the previous month.
Thursday also brings the weekly jobless claims report, a slew of February sales reports from the nation's retailers and a revised reading on fourth-quarter productivity.
Friday: The government's February employment report is due before the market open. Employers are expected to have cut 615,000 jobs from their payrolls after cutting 598,000 in January. The unemployment rate, generated by a separate survey, is expected to have risen 7.9% from 7.6% in the previous month.
Washington
Tuesday: Federal Reserve Chairman Ben Bernanke testifies before the Senate Budget Committee on economic and budget challenges, starting at 10 a.m. ET.
Peter Orszag, director of the White House Office of Management and Budget, testifies before the House Budget Committee about the fiscal 2010 budget, starting at 10 a.m. ET. He also testifies Wednesday, before the House Ways and Means Committee starting at 2:00 p.m. ET.
Last week, Obama outlined his outlook for the federal budget over the next ten years, including a roughly $3.6 trillion budget for 2010.
Wednesday: A House Financial Services subcommittee holds a hearing on oversight of the Troubled Asset Relief Program (TARP), staring at 2:30 p.m. ET.
Thursday: There's a Senate Banking Committee hearing on AIG, with Federal Reserve Vice Chairman Donald Kohn scheduled to testify. The hearing begins at 10 a.m. ET.
Also Thursday, the Obama administration is expected to provide more details on the already announced $75 billion housing rescue plan.
http://finance.yahoo.com/news/A-look-at-the-week-ahead-for-cnnm-14504732.htmlHold on tight...
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