The stock market will be closed on Monday for Independence Day. It will be a light week on the earnings calendar once investors return, but with plenty of notable economic releases to process.
The highlight will be the June jobs report from the Bureau of Labor Statistics on Friday. On average, economists are expecting a gain of 250,000 nonfarm payrolls, after an increase of 390,000 in May. The unemployment rate is expected to remain at 3.6%.
Other data out this week will include the Institute for Supply Management’s Services Purchasing Managers’ Index for June on Wednesday and the Labor Department’s initial jobless claims for the latest week on Thursday. The Federal Open Market Committee will also release minutes from its mid-June monetary-policy meeting on Wednesday. The central bank raised the federal-funds rate by 75 basis points at that meeting.
Corporate releases will include fiscal second-quarter earnings from
Levi Strauss
and June revenue data from
ຂາຍສົ່ງ Costco
,
ທັງສອງໃນວັນພະຫັດ.
ວັນຈັນ 7 / 4
Equity and fixed-income markets are closed for the Independence Day holiday.
ວັນອັງຄານ 7/5
ສຳ ນັກ ສຳ ມະໂນຄົວ releases the final durable goods report for May. Factory orders, which include both durable and nondurable manufactured goods, are expected to increase 0.6% month over month, after gaining 0.3% in April. The preliminary estimates released this past week showed that new orders for durable manufactured goods rose 0.7% to a seasonally adjusted $267.2 billion.
ວັນພຸດ 7 / 6
ໄດ້ Federal Open Market Committee releases minutes from its mid-June monetary-policy meeting. The FOMC raised the federal-funds rate by 75 basis points to 1.50% to 1.75% at that meeting, the largest increase since 1994.
ຫ້ອງການສະຖິຕິແຮງງານ releases the Job Openings and Labor Turnover Survey. Economists forecast that there were 11.2 million job openings on the last business day of May, 200,000 less than in April. Despite anecdotal evidence of a weakening job market, the number of job openings remains near record levels, and roughly double the ranks of the unemployed.
ສະຖາບັນຄຸ້ມຄອງການສະ ໜອງ releases its Services Purchasing Managers’ Index for June. The consensus estimate is for a 54 reading, about two points less than in May. The Services
SMEs
,
which tracks economic activity in the nation’s services sector, has had 24 consecutive months of readings above 50, which indicates growth.
ວັນພະຫັດ 7 / 7
Levi Strauss reports second-quarter fiscal-2022 earnings.
Costco Wholesale reports revenue data for June.
ພະແນກແຮງງານ reports initial jobless claims for the week ending on July 2. Jobless claims averaged 231,750 in June and have normalized to roughly prepandemic levels, after a period of record high claims and more recently historically low jobless claims.
ວັນສຸກ 7 / 8
The Federal Reserve reports consumer credit data for May. In April, revolving credit, which is mostly credit card debt, increased at a seasonally adjusted annual rate of 19.6%.
ທະນາຄານສະຫງວນແຫ່ງລັດນິວຢອກ President John Williams speaks at the University of Puerto Rico Mayaguez about the outlook for the U.S. and local economy.
BLS releases the jobs report for June. The economy is expected to add 250,000 jobs after gaining 390,000 in May. The unemployment rate is seen remaining unchanged at 3.6%, near historic lows. Average hourly earnings are forecast to rise 5.2% year over year, matching the May data.
ຂຽນຫາ Nicholas Jasinski ຢູ່ [email protected]