The NASDAQ 100 was lower as were the Dow Jones Industrial Average, S&P 100 and Russell 2000 last week.
1.Geopolitical and Fiscal Events. Tuesday sees Federal Reserve Chairman Powel and Federal Reserve New York President speak at the Federal Reserve Inflation Conference. On Wednesday the latest Beige Book is released.
2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as ISM Manufacturing Index, Construction Spending, Factory Orders, ISM Non-Manufacturing Index, Nonfarm Payrolls and the Unemployment Rate.
3.Earnings Releases. Notable releases this upcoming week include BOX COUP TIF CRM CPB BFB CIEN MTN
Monday, June 3
May ISM Manufacturing is due out at 10:00 a.m. and came in last month at 52.8 and is expected to fall to 52.6.
April Construction Spending is also due out at 10:00 a.m. EDT and is expected to rise 0.4% from -0.9%.
Joint (JYNT) holds its investor day and is a Type 1 Short Squeeze. The stock has just moved to moderate short interest as of May 9th’s data. Current short intensity is 74%, and the average short squeeze when moderate is 64.78%. Shorts are squeezed 42.86% of the time (7 occasions). When shorts make money, they make 29.93% on average. The average return is 14.93% over 82 days. Moderate short selling is just getting started at 15 days. There is both great risk and great reward another one not for the faint of heart.
Tuesday, June 4
April Factory Orders are due out at 10:00 a.m. EDT and are expected to fall to -0.9% from 1.9%.
Federal Reserve Chairman Jerome Powell and Federal Reserve New York President John Williams speak at the Federal Reserve Inflation Conference.
CVS Corp (CVS) holds its investor conference and is a Type 4 Long Squeeze.
Wednesday, June 5
May ADP Employment Index is due out at 8:15 a.m. EDT and is expected to come in at 170,000 from 275, 000.
May ISM Non-Manufacturing is expected to fall to 55.4 from 55.5.
June Federal Reserve Beige Book is due out at 2:00 p.m. EDT. Thursday, June 6
None of note.
Friday, June 7
May Nonfarm Payrolls are due out at 8:30 a.m. EDT and are expected to fall to 175,000 from 236,000. The Unemployment Rate is expected to tick up to 3.7% 3.6%.
Cigna (CI) holds their analyst meeting and is a Type 4 Long Squeeze