WASHINGTON -- Three economic reports released yesterday provided fresh evidence that the economy is headed into recovery, reinforcing market expectations that no changes in monetary policy will emerge from next week's meeting of the Federal Open Market Committee.

The Commerce Department reported that new orders to U.S. factories for manufactured durable goods surged in May for the second month in a row. Meanwhile, the Conference Board said consumer confidence edged up in June, and the National Association of Realtors reported that existing home sales rose in May to their highest level in more than a year.

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