The Week Ahead
NEW HOME SALES
Monday, June 29, 10 a.m.EDT -- New homes likely sold at an annual rate of 875,000 in May, down from April's 888,000 pace, says the median forecast of Standard & Poor's MMS, a unit of The McGraw-Hill Companies.
Tuesday, June 30 -- The Federal Reserve Board's Federal Open Market Committee will meet to set monetary policy. No change in interest rates is expected. The meeting continues on July 1.
Tuesday, June 30, 10 a.m.EDT -- The Conference Board's index of consumer confidence likely stood at 135 in June, little changed from 135.2 in May. Household economic optimism remains quite high.
Wednesday, July 1, 10 a.m.EDT -- The National Association of Purchasing Management's business index probably slipped to 51% in June, from 51.4% in May. The fallout from the Asian crisis is hitting the U.S. industrial sector.
Wednesday, July 1, 10 a.m.EDT -- The Conference Board's index of leading indicators was probably unchanged in May, after rising 0.1% in April.
Wednesday, July 1, 10 a.m.EDT -- Construction spending probably increased 0.4% in May, says the S&P MMS forecast, on top of a 0.8% gain in April.
Thursday, July 2, 8:30 a.m.EDT -- Nonfarm payrolls likely increased just 206,000 in June, a smaller gain than the 296,000 added in May. June's jobless rate likely edged up to 4.4% from May's 4.3%.
Thursday, July 2, 10 a.m.EDT -- Manufacturers likely increased their inventories by 0.2% in May, on top of a 0.5% gain in April.