Traders to Digest Inflation Data Ahead of December Fed Meeting

Adobe and Costco will highlight a quiet earnings week

Next week, traders will digest the latest inflation data ahead of the Dec. 19 Federal Open Market Committee (FOMC) policy statement, with the Fed expected to hike interest rates one more time in 2018. In addition, the weekly crude inventories report could merit extra attention, on the heels of this week'sOrganization of the Petroleum Exporting Countries (OPEC) meeting. Outside of the U.S., Wall Street will watch Britain, with the U.K. parliament set to vote on Prime Minister Theresa May's Brexit deal.

Earnings season is over, with only a few quarterly reports trickling out. Software name Adobe Systems (ADBE) and big box retailer Costco (COST) will both be throwing their hats into the earnings ring.

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

The week will begin Monday, Dec. 10, with the the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). Ascena Retail Group (ASNA) and Stitch Fix (SFIX) will both report their quarterly earnings.

Tuesday, Dec. 11, will be another relatively quiet day for economic data, with only the producer price index (PPI) due out. Across the pond, however, the British parliament's Brexit vote will be in focus. Dave & Busters (PLAY), DSW (DSW), and Francesca's (FRAN) will all reveal their earnings.

The consumer price index (CPI) is slated for Wednesday, Dec. 12, along with the weekly crude inventories report from the Energy Information Administration (EIA), as well as the Treasury budget. Set to report quarterly earnings are Oracle (ORCL), Oxford Industries (OXM), Scholastic Corp (SCHL), Tailored Brands (TLRD), and Vera Bradley (VRA).

On Thursday, Dec. 13, traders will digest weekly jobless claims, international trade data, and the Fed's balance sheet. Adobe Systems (ADBE), Ciena (CIEN), and Costco (COST) will all step into the earnings confessional.

The week will closeon Friday, Dec. 14, with monthly retail sales, industrial production data, and business inventories. There are no earnings of note scheduled.