The Week Ahead For May 31st-June 3rd
1. Geopolitical Events. On Wednesday the Federal Reserve Beige Book will be released at 2:00 p.m. EDT. On Thursday the ECB will issue its latest announcement. On Friday Federal Reserve Cleveland President Loretta Mester and Chicago President Charles Evans will speak.
2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and personal income, Chicago PMI, ADP Payrolls, consumer confidence, construction spending, ISM Manufacturing PMI, nonfarm payrolls and factory orders.
3. Earnings Releases. Notable releases include MDT BNS CTRP VRX AVGO CNQ.
Tuesday, May 31:
April Personal Income is released at 8:30 a.m. EDT and is expected to remain at 0.4%
May Chicago PMI is released at 9:45 a.m. EDT and is expected to rise to 50.7 from 50.40.
May Consumer Confidence is due out at 10:00 a.m. EDT and is expected to rise to 96 from 94.20.
Chinese Manufacturing PMI is due out at 9:45 p.m. EDT.
Wednesday, June 1:
April Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 0.6% from 0.3%.
May ISM Manufacturing PMI is due out at 10:00 a.m. EDT and is expected to fall to 50.5% from 50.80%.
The May ADP Payrolls Report is released before the market opens.
The OECD issues its latest economic outlook.
The Federal Reserve Beige Book is released at 2:00 p.m. EDT.
Thursday, June 2:
The European Central Bank (ECB) will release its latest interest rate update.
Challenger, Gray & Christmas announces the results of its latest job cuts survey at 7:30 a.m. EDT.
Friday, June 3:
May Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to remain at 160,000 with the unemployment rate staying at 5.0%.
April Factory Orders are expected to improve to 1.8% from 1.5%.
STOCK SPLITS THAT ARE SHORT SQUEEZES
None this week.