Today is the busiest session of the week for economic data, featuring several important reports.
Durable-goods orders for May get the ball rolling at 8:30 a.m. ET. Economists expect an increase of 3 percent, down from 3.5 percent the previous month. Excluding volatile transportation equipment, a decline of 0.5 percent is predicted. Both readings beat forecasts last month.
The Case-Shiller index of home prices follows at 9 a.m. ET, with an increase of 10.5 percent expected. The FHFA Housing Price Index will be reported at the same time but isn't followed by economists.
The June consumer-confidence reading will be released at 10 a.m. ET is expected to come in at 75, down from 76.2 in May. It beat estimates last month, driving equity prices higher at the time.
New-home sales for May are the other big report at 10 a.m. ET. Economists predict an annualized total of 460,000 units, up from 454,000 in April. New-home sales also beat expectations last month.
The Richmond Federal Reserve issues its regional activity index at the same time, but that report is unlikely to affect market sentiment.
In addition to the economic data, homebuilder Lennar, pharmacy chain Walgreen and cruise-line operator Carnival report earnings before the opening bell.
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