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This Week: Oracle results; May home sales; Philly Fed survey

June 18, 2018 5:42 AM
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Silicon Valley software giant Oracle will report its fourth-quarter results on Tuesday.

This Friday, June 15, 2018, file photo shows a "sale pending" sign is posted outside a home in East Derry, N.H. Investors will get a peek at the state of the housing market with the release of May's existing-home sales from the National Association of Realtors on Wednesday, June 20. (AP Photo/Charles Krupa)

Oracle makes database-intensive software platforms for large companies, and is the second-largest software developer in the world behind Microsoft. Analysts expect Oracle to report a profit of 94 cents a share, according to FactSet.

Investors will get a peek at the state of the housing market with the release of May's existing-home sales from the National Association of Realtors on Wednesday.

The housing market tends to be seasonal, and the U.S. economy is heading into peak home buying season. Homebuyers tend to want to shop when the weather is good but before the school season starts.

Economists expect roughly 5.53 million homes on an annualized basis to be sold in May, up slightly from April.

The Federal Reserve Bank of Philadelphia releases its business outlook survey on Thursday.

The Philly Fed Index, as it is commonly known, measures the manufacturing activity in the Philadelphia Fed's district, which includes most of Pennsylvania, Southern New Jersey and all of Delaware. It's one of a handful of regional economic surveys that investors get each month, which include the Empire State Index and the Chicago Fed Index.

Economists expect the Philly Fed Index to come in at a reading of 28.0. Any reading above zero means economic activity is expanding.

Source: dailymail.co.uk

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