The S&P/Case-Shiller 10-City Home Price Index increased by 1.4% in June, following a 0.5% increase in May (revised from an originally reported 0.4% increase, a 0.7% decrease in April, and a 2.1% decline in March.  Over the year, the index has fallen by 15.1%.  The S&P/Case-Shiller 20-City Home Price Index also had increased by 1.4% in June, following a 0.5% increase in May, and a 0.6% decrease in April.  The index is down by 15.4% over the year.  The indices now stand at early-2003 levels.  Over the past month, 18 of the 20 MSAs showed improvement in returns, the highest being in Cleveland, up 4.2%.  Las Vegas posted negative returns of -2.0% and Detroit of -0.8%.  Over the year, all metropolitan areas show negative returns.

The Consumer Confidence Index bounced back to 54.1% in August, from 47.4% in July, better than the expected 47.8% level.  The Present Situation Index increased to 24.9 from 23.3 last month. The Expectations Index improved to 73.5 from 63.4 in July.  Consumers outlook on business conditions and the employment situation improved over the month.

Upcoming Releases
Durable Orders (08/26 at 8:30 AM EST)
GDP Preliminary (08/27 at 8:30 AM EST)
Initial Claims (08/27 at 8:30 AM EST)
Personal Consumption Expenditures (08/28 at 8:30 AM EST)

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