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The Week Ahead, June 23-27

KEY EVENT: Signs of improvement. Long Island's April jobless rate was 4.5 percent, the lowest in six years. Is this a signal that the region is returning to pre-recession unemployment rates or a one-month aberration? An answer may be provided Tuesday when the state Labor Department releases May unemployment rates for Nassau, Suffolk and Long Island as a whole.

MONDAY: Existing home sales for May from the National Association of Realtors.

TUESDAY: The closely watched Case-Shiller home prices report for April. After hitting a three-year high in October, New York-area home prices fell in four of the past five months. Also, the Commerce Department releases new home sales for May. Earnings: Walgreen.

WEDNESDAY: The two-day Google I/O tech conference kicks off in San Francisco, where Google may announce updates to its Android operating system and Google Glass wearable computer. Also, the Commerce Department releases a revised estimate of first-quarter GDP and durable goods orders for May.

THURSDAY: Personal income and spending for May from the Commerce Department and claims for jobless benefits for the week ended June 21 from the U.S. Labor Department. Earnings: Nike.

FRIDAY: The University of Michigan releases June consumer sentiment.

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