The Week Ahead...

The two big reports this week are the employment situation and the personal income report. Last month's payroll gain was deeply disappointing and the economy needs to see improvement for September. Personal income growth for July also was sluggish. Stronger gains are needed for the consumer to keep spending at a decent pace. Housing has been a big question mark with the latest housing sales numbers mixed and FHFA home price growth slowing and Case-Shiller actually dipping in the latest report. Updates this week are pending home sales and a new Case-Shiller report.