The report of the week will be Durable Goods Orders. Most investors know the housing market is recovering, and it’s home buying season. So we should get some good reports on that front.
But Durable Goods Orders have been weak the first 3 months of the year; a 4th month would begin raising red flags that manufacturing is set to slow the 2nd half of the year. We need to see a good report for confirmation of the recovery story.