Comments from Fed Chairman Ben Bernake will be the highlight of the day's economic news, which includes speeches from European Central Bank President Jean-Claude Trichet and Minneapolis Fed President Gary Stern (voter). In the afternoon, the Fed will also release minuets from its monetary policy meeting on Sept. 16.

At 8:55 a.m. EDT, Redbook will release U.S. retail sales for the week ending Oct. 4. In the previous week, sales rose 1.0% on the year.

At 9:30 a.m. EDT, European Central Bank President Jean-Claude Trichet will speak at the World Policy Conference organized by the French Institute of International Relations in Evian, France.

At 10 a.m. EDT, markets will be looking for results from the Fed's $150 billion 84-day TAF auction.

Also at 10 a.m. EDT, the Bank of Canada will inject C$4.0 billion in a 91-day purchase and resale agreement.

The U.S. Bureau of Labor Statistics is also scheduled to release its Job Openings and Labor Turnover for August at 10 a.m. EDT.

At 11 a.m. EDT, Minneapolis Fed President Gary Stern will speak at the Council of Institutional Investors on the 'Repercussion from the Financial Shock'. An audience Q&A will follow.

At 11:30 a.m. EDT, the U.S. Treasury will sell $30 billion in a 79-Day Cash Management Auction which will be followed by a $25B sale in four-week treasury bills.

At 1:15 p.m. EDT, Fed Chairman Ben Bernanke will speak on the U.S. economy at the annual National Association for Business Economics Conference in Washington, D.C. An audience Q&A will follow.

At 2 p.m. EDT, the Fed will release the minutes from its Sept. 16 meeting.

At 3 p.m. EDT, the U.S. Federal Reserve will release consumer credit data for August, which is expected to total $5.5 billion compared to $4.6 billion in July.

At 5 p.m. EDT, ABC will release its consumer comfort index for the week ending Oct. 5. In the previous week, the index was -41.

At 7:01 a.m. EDT Nationwide will release its consumer confidence index for September, which is expected to decline to a reading of 49 from 52 in August.

Also t 7:01 a.m. EDT, the National Institute of Economic and Social Research will release its GDP estimate for September, which is expected to decline 0.2%.

8:55 US Redbook Chain Store Y/Y W/E Oct 4 +1.0%

9:30 EU ECB's Trichet Speaks in Evian, France

11:00 US Fed's Stern Speaks in Chicago on Financial Shock

11:30 US US to Sell $30B in 79-Day Cash Management Bill

13:00 US Treasury to Sell $25B in 4-Week Bills

13:15 US Bernanke Speaks on Economy, Markets in Washington

14:00 US Fed Releases Minutes from Sept. 16 FOMC Meeting

15:00 US Consumer Credit August Exp: $5.0B Prior: $4.6B

17:00 US ABC Consumer Confidence W/E October 5 Prior: -41

19:01 GB Nationwide Consumer Confidence September Exp: +49 Prior: +52

19:01 GB NIESR GDP Estimate September Prior: -0.2%

October 7 US DOE Short-Term Crude Outlook October Prior: +127K

October 7 US DOE Short-Term Ht Oil Outlook October Prior: +4.12K

October 7 US DOE Short-Term Diesel Outlook October Prior: +4.26K

October 7 US DOE Short-Term Mogas Outlook October Prior: +3.88K Bcf

October 7 US DOE Short-Term NatGas Outlook October Prior: +14.49K Bcf

By Erik Kevin Franco and edited by Stephen Huebl
©CEP News Ltd. 2008