Economic Events on July 28, 2010

The Mortgage Bankers’ purchase index was released at 7:00 AM EDT, and there was a week to week increase of 2.0% in the Purchase Index and a week to week decrease of 5.9% in the Refinance Index as the housing market showed a slight improvement for the second week in a row from the weakness shown since the second financial stimulus program for home sales came to a close at the end of April.

At 8:30 AM EDT, the Durable Goods Orders report for June will be released.  The consensus is that there was a increase of 1.0% from May, which still be below the strong number reported in April.

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, the Beige Book report will be released, giving us more information about economic conditions in each Federal Reserve district in advance of the next Fed meeting.

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