On Wednesday Existing Home Sales data was published. Total existing-home sales climbed 1.1 percent to a seasonally adjusted annual rate of 5.62 million in May from a downwardly revised 5.56 million in April. Last month's sales pace is 2.7 percent above a year ago and is the third highest over the past year. Lawrence Yun, NAR chief economist, says sales activity expanded in May as more buyers overcame the increasingly challenging market conditions prevalent in many areas.
Thursday brought Unemployment Claims figures. In the week ending June 17, the advance figure for seasonally adjusted initial claims was 241,000, an increase of 3,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 237,000 to 238,000. The 4-week moving average was 244,750, an increase of 1,500 from the previous week's revised average. The previous week's average was revised up by 250 from 243,000 to 243,250.
This week markets will be looking at:
Durable Goods Orders (Monday 14:30)
CB Consumer Confidence (Tuesday 16:00)
Final GDP (Thursday 14:30)
Unemployment Claims (Thursday 14:30)
Chicago PMI (Friday 15:45)
Revised UoM Consumer Sentiment (Friday 16:00)
