The (busy) Business Week Ahead

One of the heaviest weeks ever starts off on Monday with no less a headliner than personal income & spending where the PCE core price index is expected to show a little life and perhaps move closer to the Federal Reserve's 2 percent policy line. Existing home sales have been very soft but pending home sales are expected to show a rebound on Monday. Other housing data in the week include Case-Shiller home prices, which are expected to show traction on Tuesday, and construction spending on Friday which could show a badly needed bounce for the residential component. Friday opens with the employment report where the Econoday consensus is calling for another solid rise, up 210,000 for nonfarm payrolls. The ISM and consumer sentiment follow on Friday with the former expected to show strength and the latter expected to come in flat. If the PCE core shows lift and the employment remains strong, talk of an April FOMC rate hike would definitely build.