Sunday, July 22, 2018

Monday: Existing Home Sales

by Bill McBride on 7/22/2018 08:23:00 PM

Weekend:
Schedule for Week of July 22, 2018

Monday:
• At 8:30 AM ET, Chicago Fed National Activity Index for June. This is a composite index of other data.

• At 10:00 AM, Existing Home Sales for June from the National Association of Realtors (NAR). The consensus is for 5.45 million SAAR, up from 5.43 million in May. Housing economist Tom Lawler estimates the NAR will reports sales of 5.35 million SAAR for June and that inventory will be down 4.1% year-over-year.

From CNBC: Pre-Market Data and Bloomberg futures: S&P 500 and DOW futures are mostly unchanged (fair value).

Oil prices were down over the last week with WTI futures at $68.24 per barrel and Brent at $73.18 per barrel.  A year ago, WTI was at $47, and Brent was at $48 - so oil prices are up 50% year-over-year.

Here is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.83 per gallon. A year ago prices were at $2.27 per gallon - so gasoline prices are up 56 cents per gallon year-over-year.