Jun 19 - Facebook's set to make its fourth big product announcement in six months after January's Graph Search.
Music countdown of the top three story you need -- know for Thursday. The existing home sales report takes it correctly spots the month of may should've seen sales edge up to an even tally of five million homes sold according to IFR. That would be just a slimmer faster than the trend over the past six months. Pay attention to the percentage of distressed sales which has been heading downward and average home prices which have been moving steadily upward. The fact the buyers have been willing to pay more would be more good news for home builder stocks. And coming in at number two a much touted announcement from Tesla. The electric carmaker is set to unveil a battery swapping program -- model S sedan at a news conference in LA. The battery exchanges yet another step by tests led to reduced so called range anxiety. Or the infrastructure needed to drive the car without fear of losing power to juice up a test -- it takes about twenty to forty minutes. The battery swapping program would take under five minutes. Also listen for any news on -- is ongoing war with car dealers to sell directly to consumers which you on mosques says it will be hard fox. I do think that is it's tough battle we face. It's that it anniversary I typically when -- -- have all the answers. We do believe that ultimately -- If we were to go to regular pension system that we would not succeed. Tesla stock is up over 200%. For the year. And at number one your top story for Thursday -- double secret product announcement. Reported some bloggers think FaceBook will reveal one of two new products at the mystery briefing. First and most likely is the addition of a video app to -- and mr. Graham. Twitter is hugely popular buying video app that lets users record quick 62 videos they can share with friends. The other announcement could be and newsreader -- that's according to techcrunch but they do you agree to video out maybe more likely. Shares closed flat ahead of tomorrow's unveiling. Follow us on Twitter at Reuters Insider and get more of our video that Reuters dot com slash writers TV I'm hurting mom this is Reuters.