This Week: Housing starts, Fed policy update, Slack IPO

By The Associated PressFeaturesAssociated Press

A look at some of the key business events and economic indicators upcoming this week:

HOUSING BELLWETHER

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The government's monthly snapshot of U.S. housing starts should provide insight into the state of the new-home market.

The Commerce Department is expected to report Tuesday that builders broke ground on new single-family homes and other residential housing projects at a faster pace in May than in the previous month. U.S. home construction accelerated in April, led by an uptick in single-family homes.

Housing starts, monthly, seasonally adjusted annual rate:

Dec. 1,142,000

Jan. 1,291,000

Feb. 1,149,000

March 1,168,000

April 1,235,000

May (est.) 1,250,000

Source: FactSet

THE FED SPEAKS

The Federal Reserve delivers an update on interest rates and the U.S. economy on Wednesday.

The remarks will follow a two-day meeting of the central bank's policymakers. The Fed is facing pressure to cut its key short-term rate amid signs of slowing economic growth. Many stock market investors worry that the U.S. trade war with China will hurt corporate profits, and expect the Fed to cut rates at its meeting in July.

SLACK IPO

A popular messaging platform is set to go public.

Slack Technologies is expected to make its stock market debut Thursday. The company plans to list on the New York Stock Exchange under the ticker "SK." Slack's IPO follows those of Pinterest, Lyft, Uber and Zoom.