Stock futures were little changed as we start the new week. The stock market climbed 3.5% last week, but there is little news this morning to influence direction.
The only major economic report on tap today is the report on new home sale at 10:00 am ET. The S&P Case-Shiller Home Price Index and the Consumer Confidence report are scheduled for tomorrow. Durable goods orders will be released Wednesday and the weekly jobless claims number is due Thursday. On Friday, we will get the first reading on second quarter GDP. The consensus calls for growth of 2.5%, but the expectations range from 1.0% to 3.4%. Also released that day are the quarterly Employment Cost Index, the Chicago PMI and the University of Michigan’s Consumer Sentiment Report. Earnings will also get attention this week, with 157 of the S&P 500 companies reporting. Earnings are currently on track to have risen 34% from a year ago.
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