Investors in the week ahead just might get a break from the staggering news cycle that has dominated in June.
There's only a smattering of economic data on the calendar, with the one big piece of market news likely to come from banks. Still, savvy investors will be keeping their eyes open for a few key developments on tap.
About those interest rates...
The Federal Reserve provided the most drama for the markets last week when it raised rates , as expected, but did so with a dose of optimism about the economy and with more details on how it will unwind those big stimulus programs it put in place during the crisis.
This week we should get to hear some of the central bank's officials explain why they did what they did.
Monday features New York Fed President Bill Dudley leading a business roundtable in Pittsburgh and Philadelphia's Charles Evans speaking in New York; Robert Kaplan of Dallas talks Tuesday in San Francisco; Gov. Jerome Powell speaks to the Senate Banking Committee on Thursday; and Jim Bullard of St. Louis, Loretta Mester of Cleveland and Powell are on tap Friday.
Not all will be policy speeches, but any could move markets.
Testing the banks
The Federal Reserve will also deliver a report on the health of 34 of the nation's biggest banks this week.
The results of the stress tests, as they're called, are due out after the market closes on Thursday.
Why you should care: There are a couple reasons these tests are important to the typical investor. First, we'll get a further picture into how stable the financial system is eight years after the end of the financial crisis. These tests were designed to see if the banks could handle the "stress" of a crisis of that magnitude. Second, we could get some visibility on how much capital banks will be able to return to investors (i.e., dividends). The full release on how much capital banks can return is expected to be released on June 28.
Two key reports on housing
Two big economic reports are due out this week— and they're both about the housing market.
Existing home sales numbers come out on Wednesday, and Friday will feature new homes sales data. Housing has been one of the weakest parts of the economy as of late, and if that doesn't turn around soon, it could put a damper on second-half growth.
For the political junkies
With President Donald Trump 's approval ratings tumbling, according to most surveys, a few special elections could foretell what type of fate he'll face during next year's midterms.
Georgia and South Carolina have critical congressional races, with two seats vacated by members who took Cabinet positions.