Previewing Tomorrow's Big Economic Reports

Tomorrow, June 15, is a big day in terms of economic reports and the markets will be watching and waiting with every breath as the economy appears to be weakening.

At 7:00 a.m., the MBA mortgage index is going to be released for the week ending June 10.

At 8:30 a.m., May CPI will be released. It's expected the consumer price index will rise 0.1%, versus April's rise of 0.4%. Core CPI is also expected to come in at 0.1%, compared to 0.2% for April.

Also at 8:30, we get Empire Manufacturing for June. The reading is expected to tick down slightly from the prior month, coming in at 10.0 versus 11.9 from the prior month.

At 9:00, the Treasury will release its Net Long-Term TIC Flows for April.

At 9:15., May Industrial Production and Capacity Utilization will be released. For May, industrial production is expected to rise 0.2%, compared to 0.0% for April. Capacity utilization is expected to come in at 77.0%, up slightly from the prior month.

At 10:00, the NAHB Housing Market Index is going to be released, and it is expected to remain at 16, where it has stayed for several months now.

At 10:30, the EIA will release its weekly inventory reports for crude oil, as well as byproducts.