Here come housing starts ...

Economists estimate that in June, housing starts rose 6.7% at an annualized pace of 1.106 million, up from 1.04 million in May, according to Bloomberg.

The consensus forecast is that building permits fell 8% at an annualized pace of 1.150 million, up from 1.1 million in the prior month.

"Multifamily permits had picked up sharply in April and May, which is likely to filter into stronger multifamily starts; and we forecast a continued uptrend in single-family starts as well," UBS's Sam Coffin wrote in a preview.

We'll be back with the details once they cross.