@ The White House
Today, the President and the Vice President will meet with members of the House Democratic leadership at the White House. Democratic Leader Nancy Pelosi, Democratic Whip Steny Hoyer, Assistant Democratic Leader James Clyburn and Representative Chris Van Hollen will be in attendance. The group will talk about the progress being made towards a balanced framework for deficit reduction through the discussions being led by the Vice President.
Later, the President will depart for Fort Drum, New York. The departure from the South Lawn and the arrival at Fort Drum. In the afternoon, the President will meet with soldiers from the 10th Mountain Division, many of whom have just returned from Afghanistan. Later in the afternoon, the President will meet with Gold Star families.
Later, the President will depart Fort Drum, New York for New York City, New York. In the evening, the President will deliver remarks at a DNC event at the Sheraton New York Hotel and Towers.
Later in the evening, the President will deliver remarks at a DNC event at Daniel. Later, the President will deliver remarks at a DNC event at the Broadway Theatre.
At night, the President will depart New York City, New York for Pittsburgh, Pennsylvania. The President will remain overnight in Pittsburgh, Pennsylvania.
@ Wall Street
New Home Sales (May): New home sales climbed 7.3% in April to a 323,000-unit annual rate. The increase,
however, was not statistically significant?so it might just have been statistical noise. The market for single-family homes remains stuck at the bottom. Builder sentiment deteriorated in June, falling to its lowest level since September 2010, according to the National Association of Homebuilders.
This decline in sentiment is probably related to weak sales. IHS Global Insight projection is that new home sales fell back to a 305,000 annual rate in May, the same as the average sales pace for the prior six months.
