Monday, July 25, 2011

Busy Day Tomorrow: Case-Shiller and New Home Sales

by Bill McBride on 7/25/2011 10:18:00 PM

The Asian markets are mostly green tonight, with the Hang Seng up 0.75%.

From CNBC: Pre-Market Data and Bloomberg futures: the S&P 500 is off about 4 points, and Dow futures are off about 25 points.

Tuesday ...

9:00 AM: S&P/Case-Shiller Home Price Index for May. Although this is the May report, it is really a 3 month average of March, April and May. The consensus is for flat prices in May, however I expect prices to increase NSA.

10:00 AM: New Home Sales for June. The consensus is for a slight increase in sales to 321 thousand Seasonally Adjusted Annual Rate (SAAR) in June from 319 thousand in May.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for July. The consensus is for the index to be at 4, up from 3 in June (above zero is expansion).