FOMC Meeting Begins
The Federal Open Market Committee meets eight times a year to determine the near-term direction of monetary policy. For monetary policy, the FOMC evaluates the relative concerns over the outlook for economic growth and pending inflation.
8:30 AM International Trade in Goods (Advance)
This monthly report offers advance import and export data on the goods components of the monthly trade report.
Forecasters see the deficit at $99.0 billion in May as imports are down from elevated levels in Q1 that reflected tariff-front-running.
8:30 AM Retail Inventories (Advance)
Retail inventories measure the monthly dollar value of inventories held by retailers.
8:30 AM Wholesale Inventories (Advance)
Wholesale inventories measure the monthly dollar value of inventories held by merchant wholesalers and are tracked to gauge inventory change in quarterly GDP.
The consensus sees inventories flat in June.
9:00 AM Case-Shiller Home Price Index
The S&P Corelogic Case-Shiller home price index tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the nation.
Home prices are seen up 3.0 percent on year in May versus 3.4 percent in April as housing price inflation trends down.
9:00 AM FHFA House Price Index
The Federal Housing Finance Agency (FHFA) House Price Index (
HPI) covers single-family housing, using data provided by Fannie Mae and Freddie Mac.
10:00 AM Consumer Confidence
The Conference Board's confidence report surveys consumers on their assessments of the labor market, business activity, and their own financial conditions.
The consensus looks for confidence a bit better at 95.8 in July versus 93.0 in June and 98.4 in May, as tariff and inflation fears have diminished somewhat.
10:00 AM JOLTS
The Labor Department's JOLTS report tracks monthly change in job openings and offers rates on hiring and quits.
Job openings are expected to be down at 7.400 million in June versus 7.769 million in May. That reflects more cautious hiring.
11:30 AM 2-Yr FRN Note Auction
A 2-year FRN note auction is a sale of 2-year floating rate notes (FRNs) by the US Department of the Treasury. The US Treasury Department will hold an auction for $30 billion.
1:00 PM 7-Yr Note Auction
The US Treasury Department will hold an auction for $44 billion of 7-year Notes.