The Week Ahead For June 1st Through 4th
The Russell 2000, S&P 500, NASDAQ 100 and Dow Jones Industrial Average were all higher for the week.
Geopolitical and Fiscal Event. Wednesday sees the latest Fed Beige Book released. Friday sees the G-7 begin their meeting.
Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as Construction Spending, ISM Manufacturing Index, Federal Reserve Beige Book, ADP Employment Report, ISM Non-Manufacturing Index, Factory Orders and Nonfarm Payrolls.
Earnings Releases. Notable releases this upcoming week include BNS CGC ZM AAP CCL DCI CIEN SJM HOME COO DOCU WORK.
Monday, May 31st
- The Organization for Economic Cooperation & Development (OECD) is out with its latest economic outlook.
- Markets in the U.S. are closed for Memorial Day observances despite some thinking it is just a “long weekend”.
Tuesday, June 1st
- April Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 0.5% from 0.2%.
- May ISM Manufacturing Index is due out also at 10:00 a.m. EDT and is expected to rise to 61% from 60.7%.
- Type 1s holding investor meetings include Great Ajax (AJX).There have been seven times AJX has had moderate short selling and in five of the seven times the shorts were squeezed. The average squeeze was 7.87%. The current trade sees the shorts up 0.79%. The two times the shorts made money they made 1.12%. The average duration of these trades was 70 days.
Wednesday, June 2nd
- The Federal Reserve releases its latest Beige Book for the fourth time this year.
- Accel Entertainment (ACEL) holds its analyst meeting and is a Type 1 Short Squeeze. Current short intensity is moderate at 64%. There has been one moderate short squeeze and the shorts lost 35.71%. The squeeze lasted 44 days. The current squeeze has seen the shorts lose 21.57%.
Thursday, June 3rd
- April ADP Employment Report is due out at 8:15 a.m. EDT and is expected to rise to 675,000 from 742,000.
- May ISM Non-Manufacturing Index is due out at 10:00 a.m. as well and is expected to rise to 63% from 62.7 0%.
- Type 1s holding investor meetings include Anika Therapeutics (ANIK).Current short intensity is moderate at 62%. There have been thirty four moderate short squeezes and the shorts lost 28.18% on average and when they made money the average return was 14.31%. The average moderate squeeze lasted 76 days. The current squeeze has seen the shorts lose 10.70%.
Friday, June 4th
- May Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to rise to 720,00 from 266,000. The unemployment rate is expected to drop to 5.9% from 6.1%.
- April Factory Orders is due out at 10:00 a.m. EDT and is expected to fall to 0.50% from 1.1%.