With a summer solstice in hand and stock market indices sold off between 3-4% over the past trading week, investors may be feeling a little bountiful this morning. Pre-market futures are up nicely: +410 points on the Dow, +55 on the S&P 500 and +170 points on the Nasdaq. This won’t solve our issues with being oversold quite yet, but we need to start somewhere.

It won’t be a particularly big week for economic data, and Q2 earnings season — aside from fiscal-year outliers like FedEx (FDX Quick QuoteFDX - Free Report) , which reports Thursday — is still a few weeks away. We do get to hear from plenty of voting members from the Federal Open Market Committee (FOMC) following their 75 basis-point interest rate hike, which doubled the Fed funds rate last week. Aside from Fed Chair Jay Powell testifying before both Senate and House committees this week, we’ll hear from Fed Presidents Mester, Barkin, Evans, Bullard and Daly.

Otherwise, we’ll get new data on Existing Home Sales after today’s open, PMI Manufacturing and Services data Thursday — along with weekly and longer-term jobless claims — and University of Michigan consumer sentiment Friday, the same day New Home Sales numbers come out. The Housing market seems to be leading inflation metrics down ahead of the overall economy; this week’s prints ought to be useful to see if this is continuing.

We’re getting our summer legs beneath us rather slowly, in other words, but maybe moving cautiously is what the doctor ordered at this stage. The ravenous sell-off we’ve experienced over the past month was so dire and long-lasting, the acute pain of losses actually began having a dulling effect. Maybe it will be nice to start feeling again — with a summer breeze in our face, while we’re here.