Today's economic calendar includes data related to housing, durable goods, and oil inventories.
The day begins with the weekly MBA mortgage-purchase applications at 7 a.m. ET. There are no projections for this report, which came in at -5.5 percent in its last reading.
Durable goods for May will be released at 8:30 a.m. ET. Analysts are expecting new orders to have risen from 0.2 percent in April to 0.4 percent in May, within an estimated range of -1 percent to 1 percent. Excluding transportation, analysts anticipate a gain to 0.8 percent in May, up from April's -0.6 percent, within a range of -0.5 percent to 1.5 percent.
Pending home sales for May are scheduled for 10 a.m. ET. The consensus forecast calls for a rise to 1.2 percent from April's -5.5 percent. Estimates range from -1.6 to 4 percent.
Weekly EIA petroleum inventory figures will be reported at 10:30 a.m. ET. Last week's crude-oil supplies showed a build of 2.861 million barrels.
A five-year Treasury note auction will close out the calendar at 1 p.m. ET.
Looking forward to tomorrow, traders will be focusing on second-quarter GDP figures at 8:30 a.m. ET and a possible Supreme Court ruling on Obamacare at 10 a.m. ET.
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Economic reports slow down this week
May 6, 2013
The calendar quiets significantly this week, with no major economic releases. The first events don't occur until Wednesday, when mortgage applications and oil inventories will be reported.
