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The Week Ahead


EXISTING HOME SALES

Monday, June 25, 10 a.m. EDT -- Existing homes probably sold at an annual rate of 5.18 million in May. That's according to the median forecast of economists surveyed by Standard & Poor's MMS, a division of The McGraw-Hill Companies. In April, home sales dropped 4.2%, to an annual rate of 5.2 million.

DURABLE GOODS ORDERS

Tuesday, June 26, 8:30 a.m. EDT -- New orders for durable goods likely slipped 0.3% in May, after tumbling 5% in April. Transportation equipment and semiconductors accounted for most of the fall.

FOMC MEETING

Tuesday, June 26, 9 a.m. EDT -- The Federal Reserve Board's Open Market Committee will meet for two days to set monetary policy. Economists surveyed by S&P's MMS unanimously expect another cut in the federal funds rate, but are divided over a quarter- or a half-point cut, with about 60% in favor of a quarter-point cut.

CONSUMER CONFIDENCE

Tuesday, June 26, 10 a.m. EDT -- The Conference Board's index of consumer confidence will likely remain unchanged in June, after jumping to 115.5 in May. The recent rebound has been concentrated in a turnaround in consumers' future expectations.

NEW RESIDENTIAL SALES

Tuesday, June 26, 10 a.m. EDT -- New single-family home sales in May probably sold at an annual rate of 900,000, up from an April rate of 894,000.


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