by Calculated Risk on 7/14/2014 09:11:00 PM

It is dry in California, from CBS: California Gears Up To Vote On Water Wasting Law Tuesday

The State Water Resources Control Board is set to vote Tuesday on tough new rules that would allow any public employee empowered to enforce laws to write tickets for wasting water. ... Violations would include watering during the day, rinsing driveways and washing a car without a shut off nozzle.

Tuesday:
• At 8:30 AM ET, Retail sales for June will be released. The consensus is for retail sales to increase 0.6% in June, and to increase 0.5% ex-autos.

• Also at 8:30 AM, the NY Fed Empire Manufacturing Survey for July. The consensus is for a reading of 17.0, down from 19.3 in June (above zero is expansion).

• At 10:00 AM, Testimony by Fed Chair Janet Yellen, Semiannual Monetary Policy Report to the Congress, Before the Senate Banking, Housing, and Urban Affairs Committee, Washington, D.C.

• Also at 10:00 AM, Manufacturing and Trade: Inventories and Sales (business inventories) report for May. The consensus is for a 0.6% increase in inventories.