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Monday's trading: 5 things to know

Added 06-27-22 02:04:02am EST - “The key events taking place on Monday that could impact trading include big-ticket items report and pending home sales for May.” - Foxbusiness.com


Posted By TheNewsCommenter: From Foxbusiness.com: “Monday's trading: 5 things to know”. Below is an excerpt from the article.

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BIG-TICKET ITEMS REPORT: The Census Bureau is expected to announce at 8:30 a.m. Monday new orders for manufactured big-ticket items were unchanged in May from a month ago, after rising a seasonally adjusted 0.5% in April. If you factor out the transportation component, orders are anticipated to rise 0.3%, slightly below April’s increase of 0.4%. Orders for core capital goods, a closely watched proxy for business spending, are seen climbing 0.3% in May, slightly trailing April’s 0.4% pop.

An employee works on the 40 millionth Ford Motor Co. F-Series truck on the assembly line at the Ford Dearborn Truck Plant on January 26, 2022 in Dearborn, Michigan. (Photo by JEFF KOWALSKY/AFP via Getty Images / Getty Images)

PENDING HOME SALES REPORT: The National Association of Realtors is expected to announce at 10 a.m. Monday its index of pending home sales for May. Economists surveyed by Refinitiv are looking for a decline of 4%, the seventh straight monthly drop as buyers contend with soaring borrowing costs and record-high prices. That would leave the index at its lowest level in more than two years (since April 2020). Recall that a sale is pending when a contract to buy a previously owned home has been signed but not yet closed. It’s the latest sign of stress for the housing market, with sales of existing homes at a 2-year low and new home construction tumbling to a 13-month low. On Friday we found out that sales of new homes surged unexpectedly in May from a 2-year low, but that rebound is likely to be temporary with mortgage rates and home prices where they are.


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