The Mortgage Bankers’ purchase index was released at 7:00 AM EDT, and there was a week to week increase of 3.4% in the Purchase Index and a week to week increase of 8.6% in the Refinance Index as the housing market showed a slight improvement from the weakness shown since the second financial stimulus program for home sales came to a close at the end of April, and refinancing remains strong due to low interest rates.
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.
At 2:00 PM EDT, Ben Bernanke will testify before the Senate Committee on Banking, Housing, and Urban Affairs about the Semiannual Monetary Policy Report to the Congress.
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