Business events scheduled for Tuesday

Major business events and economic events scheduled for Tuesday:

WASHINGTON — Labor Department releases productivity for the second quarter, 8:30 a.m. EDT.

WASHINGTON — Commerce Department releases wholesale trade inventories for June, 10 a.m. EDT.

WASHINGTON — Federal Open Market Committee meets to set interest rates.

LOS ANGELES — Closing arguments expected in a retrial to determine if Philip Morris USA should be ordered to pay $28 million in punitive damages to the family of a longtime smoker who died of lung cancer.