Thursday brought Unemployment Claims data. In the week ending September 5, the advance figure for seasonally adjusted initial claims was 275,000, a decrease of 6,000 from the previous week's revised level. Analysts were predicting decline to 279,000. The 4-week moving average was 275,750, an increase of 500 from the previous week's revised average. The previous week's average was revised down by 250 from 275,500 to 275,250. 

In the US session PPI and Consumer Sentiment figures were released. The Producer Price Index for final demand was unchanged in August, seasonally adjusted. Analysts were forecasting 0.1% decrease. Final demand prices rose 0.2% in July and 0.4% in June. On an unadjusted basis, the final demand index moved down 0.8% for the 12 months ended in August, the seventh straight 12-month decline.

Consumer sentiment declined in September to the lowest level in year as Americans anticipated a weaker economy in face of a global slowdown and turbulent financial markets. The University of Michigan’s preliminary index dropped to 85.7 from 91.9 in August, the largest one-month decline since the end of 2012. No change was anticipated. Households were less upbeat about future growth in employment and wages than a few months earlier as 73 percent of respondents reported hearing news of negative economic developments.

This week markets will be looking at:

Retail Sales (Tuesday 14:30)

Industrial Production (Tuesday 15:15)

CPI (Wednesday 14:30)

Building Permits/Housing Starts (Thursday 14:30)

Unemployment Claims (Thursday 14:30)

Philly Fed Manufacturing Index (Thursday 16:00)

FOMC Economic Projections/FOMC Statement/Federal Funds Rate (Thursday 20:00)