Thursday brought Unemployment Claims and New Home Sales figures. In the week ending June 18, the advance figure for seasonally adjusted initial claims was 259,000, a decrease of 18,000 from the previous week's unrevised level of 277,000. The 4-week moving average was 267,000, a decrease of 2,250 from the previous week's unrevised average of 269,250. This marks 68 consecutive weeks of initial claims below 300,000, the longest streak since 1973.
New U.S. single-family home sales fell in May from a more than eight-year high amid weakness in three regions, but the overall housing market remains intact. The Commerce Department said on Thursday new home sales dropped 6.0% to a seasonally adjusted annual rate of 551,000 units. April's sales pace was revised down to 586,000 units, still the highest since February 2008, from the previously reported 619,000 units.
Friday was marked by Durable Goods Orders figures. Orders for business equipment unexpectedly fell in May by the most in three months, pointing to weakness in investment even before the likely damage to confidence stemming from U.K. voters’ decision to leave the European Union. Total bookings for durable goods -- or those meant to last at least three years -- slumped a more-than-expected 2.2 percent (forecast was 0.5 percent drop).
This week markets will be looking at:
Final GDP (Tuesday 14:30)
CB Consumer Confidence (Tuesday 16:00)
Pending Home Sales (Wednesday 16:00)
Unemployment Claims (Thursday 14:30)
Chicago PMI (Thursday 15:45)
ISM Manufacturing PMI (Friday 16:00)
