Here are the events taking place on Monday

The events taking place on Monday that could affect trading are the ones listed below.

The Census Bureau is expected to announce at 8: 30 a.m. Monday, new orders for manufactured big-ticket items remained unchanged from a month ago, after rising a seasonally adjusted 0.5% in April. The transportation component is expected to increase by 0.3%, a bit less than April's increase of 0.4%. Orders for core capital goods, a closely watched proxy for business spending, have climbed 0.3% in May, slightly trailing April's 0.4% pop.

The National Association of Realtors is expected to announce its index of pending home sales for May at 10 a.m. Monday. The soaring borrowing costs and record-high prices are a reason for economists to expect a decline of 4%, the seventh monthly drop from Refinitiv. The index would remain its lowest level in more than two years since April 2020. Recall that a sale is pending when a contract to buy a previously owned home has been signed but not yet closed. On Friday, we found out that sales of new homes surged unexpectedly in May from a 2 year low, but that rebound is likely to be temporary with mortgage rates and home prices where they are.

The Dow, Nasdaq and S&P 500 recouped their losses from the previous week. The Fed tightens monetary policy to combat inflation, leading to a tumble in the stock market earlier this month. Market indexes rebounded this week after bargain hunters swooped in to buy cheap stocks and in a paradoxical twist where bad news was good news that some worse than expected economic figures fueled investors hopes that the Fed might become less hawkish.

It's clear that economic activity is cooling, which should cool down inflation. That is positive together, said Luc Filip, head of investments at SYZ Private Banking.

The consumer sentiment index of the University of Michigan dropped to its lowest-ever recorded level in June, according to the survey data released on Friday. The drop highlighted the grim mood among Americans as inflation eats into their purchasing power and recession fears loom. The May reading of inflation expectations for the next five to 10 years was revised, lowering them to 3.1% from 3.3%. After the survey, analysts said that the revision fueled optimism that the Fed wouldn't be as aggressive about hiking interest rates and added to market gains after the survey's release.

Carnival shares went up by $1.20, or 12%, to $10.85 after the cruise-line operator reported it was on track for a nearly 50% increase in revenue compared to the first three months of the year. Norwegian Cruise Line Holdings and Royal Caribbean both posted double-digit gains, as well as double-digit gains.