The (Holiday) Week Ahead...

A holiday shortened week may pack a punch for Wednesday but there will be plenty of data to mull on Monday, led by existing home sales, and on Tuesday which will be highlighted by home prices and consumer confidence. Existing home sales are not, unfortunately, expected to show much life though Case-Shiller home prices on Tuesday are. Wednesday will see an avalanche of market-moving indicators led by durable goods orders, which are expected to show a rare advance, and personal income and outlays where, according to the Econoday consensus, core PCE prices are expected to post a noticeable advance. New home sales, the bookend to Monday's existing home sales, will end the holiday shortened week.