It is a very busy and important week for economic data. On Tuesday, we get the latest Case-Shiller index and will see if home prices are going to slow two-months in a row. On Wednesday, the FOMC will announce their latest rate hike to combat inflation, which is still projected at 75 basis points, and we will get pending home sales data. On Thursday, we will get our first look at Q2 GDP and whether or not we will have two quarters of negative growth. And on Friday, we will see personal income and spending data from last month which is expected to rise modestly.
Tuesday
9:00 AM Case-Shiller 20-City Index is expected to fall to 20.8%
9:00 AM The FHFA Home Price Index
10:00 AM New Home Sales are expected to fall 4.6% to 664k
10:00 AM Consumer Confidence index is projected to fall 97.3
Wednesday
7:00 AM Mortgage demand and rates
10:00 AM Pending home sales are projected to fall 1.5%
2:00 PM FOMC is expected to raise rates 75 basis points
2:30 PM Fed Chair Jerome Powell press conference
Thursday
8:30 AM GDP Advanced estimate for Q2 is expected to show a slight 0.4% uptick.
8:30 AM Initial jobless claims are expected to slightly rise to 253k
10:00 AM Mortgage rates
Friday
4:30 AM Mortgage lending and approvals in the UK
8:30 AM Personal spending and income are projected to rise 0.9% and 0.5%, respectively
10:00 AM Michigan consumer sentiment is projected to rise to 51.1