Initial unemployment insurance claims are expected to rise this week

Leading Economic Index LEI (June, Wednesday 8:30 ET) F: 0.8% C: 0.5% P: 1.2% In June, the LEI is expected to rise for the third month in a row, but at a slower pace. Even though two of the index’s previous drivers of growth, the S&P500 and consumer expectations, have dropped in June, the decline in initial jobless claims and the rise in manufacturers new orders and building permits will help to offset those components. A rise in the index will support the outlook that economic contraction