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- Last month’s existing home sales report showed a 3.7% increase in March. That was short of expectations but at least moving in the right direction. Home affordability remains near its all-time high, but tepid job growth, hesitant buyers and credit constraints continue to weigh on the sector. We’ll get the latest numbers for April on Thursday.
- The earnings line-up includes important retailers like JCPenney, Staples, Target and Wal-Mart, as well as home improvement giants Home Depot and Lowes. Tech bellwethers Dell and Hewlett-Packard are also scheduled to report.
- Other economic releases of note include weekly unemployment claims on Thursday, the Philadelphia Fed’s business outlook, and the index of leading indicators on Friday.
Monday : NAHB Housing Market Index
Tuesday : Housing Starts / Industrial Production
Wednesday : FOMC Minutes
Thursday : Weekly Unemployement / Existing Home Sales / Philidelphia Fed
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