06/25/12-The Grio and CNBC Market Update

We expect earnings reports this week from general mills, Walgreens, family dollar and k-b home. It’s also another big week for economic data as we expect data on g-d-p, home prices and personal income. We’ll gain insight on the economy with the final estimate of first quarter g-d-p –which looks at all the goods and services produced from January thru March. The second estimate showed the economy grew by 1 point 9 percent — much slower than the previous quarter.

We’ll get a read on housing with the April case-shiller home price index report. in march home prices edged up slightly, marking the first back to back monthly improvement in home prices since 2010, but Atlanta, Chicago and Cleveland showed some of the biggest declines. We’ll check the pulse of consumer spending and finances with the May personal income report. In April consumers saw their wages increase by two tenths of  one percent, and spending rose  three tenths of  one percent as gas prices declined.