Events from Europe will be at the forefront for this week’s market. Spain’s bank-bailout plan will now include details and on Monday, the country will apply to the European Union for banking sector aid. A positive outcome for Spain’s woes will be if the country’s banks agree to a plan that has its preferred stocks converted into common stocks.
Also coming from Europe this week is the two-day European Council meeting. It begins on Thursday in Brussels and there’s hope some sort of plan will be announced.
Back on the domestic front there’s some economic indicators and quarterly results to be reported. In addition, politics and business will come together as the the Supreme Court will rule on President Obama’s healthcare law this week–possibly on Monday.
Take a look.
Monday: May New Home Sales.
Tuesday: April S&P Case Shiller home prices index, June Consumer Confidence and June Richmond Fed manufacturing survey.
Wednesday: May durable goods orders and May pending home sales.
Thursday: Weekly jobless claims, First-quarter real GDP and June Kansas City Fed manufacturing survey.
Friday: May personal income, May consumer spending, June Chicago PMI and June Reuters/UMich consumer sentiment (final).
Monday: Apollo Group (NASDAQ:APOL).