@ Wall Street
S&P/Case-Shiller Home Price Index (Jul.): Housing prices appear to be stabilizing. The FHFA monthly (purchase only) house price index, for example, has risen four straight months. The reasons behind the recent stabilization are unclear, but falling mortgage rates are likely playing a key role. IHS Global Insight call is that the monthly seasonally adjusted Case-Shiller 20-city composite index will be up slightly (0.1%) in July. This translates into a 4.4% year-on-year drop in the not-seasonally adjusted index.
Conference Board Consumer Confidence (Sep.); IHS Global Insight expect the Conference Board's consumer confidence index to drop from 44.5 in August to 44.0 in September. In August, consumer confidence fell almost 25%. There's been no good news in September to brighten the mood (Note: the plunge in equities after the Fed's policy decision probably came after the survey period ended, so didn't do extra damage to the September confidence reading).
@ The White House
In the morning, the President will travel to Denver, Colorado. The departure of Air Force One from Los Angeles, California and the arrival in Denver, Colorado are open press.
While in Denver, the President will visit Abraham Lincoln High School to highlight his American Jobs Act proposal to put workers back on the job by rebuilding and modernizing schools across the country.
The American Jobs Act proposes a $25 billion investment in school infrastructure that will modernize at least 35,000 public schools ? investments that will create jobs while improving classrooms and upgrading our schools to meet 21st century needs.
While at Abraham Lincoln High School, the President will deliver remarks. Later, the President will return to Washington, DC. .
