The Mortgage Bankers’ purchase index was released at 7:00 AM EDT, and there was a week to week decrease of 5.9% in the Purchase Index and a week to week increase of 12.6% in the Refinance Index as the housing market continues to show weakness since the second financial stimulus program for home sales came to a close at the end of April, but refinancing remains strong due to low interest rates.
At 8:15 AM EDT, the ADP Employment Report will be released. Investors will be watching this number to get advance notice on the state of the job market in advance of the government’s report on Friday.
At 9:45 AM EDT, the Chicago PMI Index for June will be announced. The consensus index value is 59.7, which is the same as May, but is still well above the break-even level at 50.
At 10:30 AM EDT, the weekly Energy Information Administration Petroleum Status Report will be released, giving investors an update on oil inventories in the United States.
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