Here Come Home Prices...

At 9:00 a.m. ET, we'll get the May S&P/Case-Shiller report on U.S. home prices.

Economists estimate home prices climbed by 0.3% month-over-month in May, or 10.0% year-over-year.

"This is a marked slowdown from the 10.7% qoq saar increase in 1Q," said Bank of America Merrill Lynch economists. "While we had expected home price appreciation to slow, the sharp swing between 1Q and 2Q seems extreme and may reflect poor seasonal factors related to the share of distressed transactions. As such, we may see stronger monthly readings in the second half of the year even though the yoy rate should continue to slow."

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