A preview of the news, earnings and economic data to expcet in the week ahead.
The monthly jobs report is the highlight in the coming week, as June winds down and markets start the second half of the year.
Economists are expecting about 700,000 jobs. That’s better than the 559,000 in May but below the forecasts of several months ago that payroll creation would be rolling along with monthly gains of at least 1 million.
Stocks have turned in a mixed performance for the month of June so far. The S&P 500 was up 1.8% as of Friday for the month, and up 7.7% in the second quarter for a 15.6% year-to-date gain. The Nasdaq was up 4.4% in June and up 8.4% for the quarter. The Dow, meanwhile, lagged in June with a modest 0.3% decline, but it is up 4.4% quarter-to-date.
The Organization of the Petroleum Exporting Countries and allies, known as OPEC+ will hold a series of meeting in the coming week to review the situation in the global oil market ahead of an official meeting on Thursday.
Thursday’s meeting is expected to result in another boost in output as the demand outlook continues to recover. Oil prices climbed to their highest since October 2018 on Friday, putting both benchmarks up for a fifth week in a row.
CALENDAR
MONDAY
Earnings
Herman Miller
Macro
US: S&P Case/Shiller home prices, S&P Case/Shiller home prices, Consumer confidence
Monetary Policy
BOE Andy Haldane speech
New York Fed President John Williams speech
Philadelphia Fed President Patrick Harker speech
TUESDAY
Earnings
AeroVironment
Macro
Asia: Japan Unemployment Rate (MAY), Japan Retail Sales (MAY)US: S&P Case/Shiller home prices, S&P Case/Shiller home prices, Consumer confidence
UK: Mortgage Approvals (May)Europe: EU Consumer Confidence Final (JUN), Germany Inflation Rate Prel (JUN)
Monetary Policy
ECB President Lagarde Speech
WEDNESDAY
Earnings
Constellation Brands, General Mills, Bed Bath & Beyond, Micron
Macro
Asia: Japan Industrial Production Prel (MAY), China: NBS Manufacturing PMI (JUN), China: Non-Manufacturing PMI (JUN)
US: ADP payrolls, , Chicago PMI, Pending home sales
UK: GDP Growth Rate Final (Q1)
Europe: Germany Unemployment Change (JUN)#
Monetary Policy
RBA Governor Lowe Speech
BOE Haldane Speech
THURSDAY
Earnings
Walgreens Boots Alliance, McCormick
Macro
Asia: Japan Tankan Large Manufacturers Index (Q2), Australia Trade Balance (MAY), China Caixin Manufacturing PMI (JUN)
US: Unemployment claims, Manufacturing PMI, ISM manufacturing
Monetary Policy
ECB President Lagarde Speech
BOE Gov Bailey Speech
FRIDAY
Earnings
N/A
Macro
EU: Germany Retail Sales (MAY), EU PPI (MAY)
US: NFP Employment report, International trade, Factory orders
Sources: Investing.com, CNBC
