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(CEP News) - The SEC's meeting on the possible resurrection of the "uptick rule" and the release of the FOMC's minutes from the March 17 and 18 meeting are the main highlights of Wednesday's economic events. The U.S. Treasury will also hold an auction of three-year notes.
At 8:15 a.m. EDT, the Canadian Mortgage and Housing Corporation will release March housing starts, which are expected to fall to an annualized rate of 130.0k against the 134.7k level in February. At 10 a.m. EDT, the U.S. Commerce Department will release February wholesale inventories. The headline is expected to slide 0.7% month-over-month following a 0.9% decline in January. At 10:30 a.m. EDT, the U.S. Energy Information Administration will release oil inventories for the week ending April 3. Economists are expecting a 1500k build in crude oil reserves following the previous 2844k gain. Gasoline inventories are expected to come in lower by 1400k following the previous 2225k rise. Distillate inventories are expected to fall 600k after increasing 221k in the previous week. Refinery utilization is expected to come in flat after falling 0.28% the week prior. At 1 p.m. EDT, the U.S. Treasury Department will sell $35 billion in three-year notes. The Treasury is also slated to buy back some notes and bonds. At 2 p.m. EDT, the U.S. Federal reserve will release minutes from the FOMC's meeting on March 17 and 18. Note that on Wednesday the SEC is slated to have its meeting on the possible reinstatement of the "uptick rule". The rule, which is geared at putting limitations on short-selling, was eliminated several years ago and policy-makers and market participants have called for its reinstatement despite studies suggesting the rule had become obsolete. The SEC is currently examining variations on the regulation. All times in EDT. 8:15 CA Housing Starts March Exp: +130.0K Prior: +134.6K Revised: +134.7K 10:00 US Wholesale Inventories February Exp: -0.7% Prior:-0.7% Revised:-0.9% 10:30 US DOE U.S. Crude Oil Inventories W/E April 3 Exp: +1500k Prior: +2844K 10:30 US DOE U.S. Gasoline Inventories W/E April 3 Exp: -1400k Prior: +2225K 10:30 US DOE U.S. Distillate Inventory W/E April 3 Exp: -600k Prior: +221K 10:30 US DOE U.S. Heat Oil Inventories W/E April 3 Prior: +298K 10:30 US DOE U.S. Refinery Utilization W/E April 3 Exp: 0.0% Prior:-0.28% 13:00 US Treasury to Sell 3-Year Notes 13:00 US Treasury to buy back Notes/Bonds 14:00 US Fed Releases Minutes from March 17-18 FOMC Meeting By Erik Kevin Franco,
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, edited by Stephen Huebl,
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