NewsWare’s Trade Talk: Monday, June 27

S&P Futures are higher this morning ahead of this morning's Durable Goods report. Expectations are for a -0.4% dip in the May figures after rising 0.5% in April.  Futures have been weakening over the past hour, but remain positive. News reports indicated that Russia has defaulted on its foreign currency sovereign debt. The week ahead holds a wave of economic data and meetings, including an event on Wednesday with Jerome Powell and the heads of the European Union and U.K. central banks. The personal consumption expenditures index on Thursday also will be closely watched, considering the PCE measure is the Fed's preferred inflation indicator. There is also an OPEC meeting this week.