Here Comes Housing Starts...

At 8:30 a.m. ET, we'll get the August housing starts report.

Economists estimate starts fell 5.2% in August to an annualized rate of 1.037 million. Permits are estimated to have declined 1.6% to 1.04 million.

"On balance, the trend is still positive, as housing starts have run above 1.000mn only two months so far this year," Bank of America Merrill Lynch economists said. "Building permits likely increased to 1.075mn amid better homebuilder sentiment - the NAHB housing index climbed to 55 over the month from 53."

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