The Week Ahead
Major stock indexes fell this past week across the board, making it down eleven weeks of the last thirteen weeks.
1. Geopolitical and Fiscal Events. The key issue remains how the Russian invasion of Ukraine progresses. The latest minutes from the FOMC minutes are out this week.
2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and factory orders, ISM Non-Manufacturing Index, ADP Employment Index, Nonfarm Payrolls and the unemployment rate.
3. Earning Releases No notable releases this upcoming week.
Monday, July 4th
Markets in the U.S. are closed for 4th of July celebrations.
Tuesday, July 5th
May Factory Orders are due out at 10:00 a.m. EDT and expected to come in at 0.5% from 0.3%.
Wednesday, July 6th
June ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and expected to come in at 54.20% from 55.90%.
The latest Federal Reserve Open Market Committee Minutes are due out at 2:00 p.m. EDT
Thursday, July 7th
June ADP Employment Report is due out at 8:15 a.m. EDT and expected to come in at 190,000 from 128,000.
Friday, July 8th
June Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to fall to 250,000 from 390,000. The unemployment rate is expected to stay at 3.6%.