As the markets gear up for a shortened trading week due to the Independence Day holiday, investors are eyeing key economic data releases, particularly the U.S. jobs report slated for Friday. Federal Reserve Chair Jerome Powell’s upcoming remarks at an international conference and the release of minutes from the Fed’s June meeting are also set to influence market sentiment early in the week.
Throughout the week, market observers will closely monitor data on the manufacturing and services sectors, along with earnings reports from companies like Constellation Brands.
Key Events This Week:
Monday, July 1:
S&P U.S. manufacturing PMI (June)
Construction spending (May)
ISM manufacturing (June)
Tuesday, July 2:
Federal Reserve Chair Jerome Powell delivers remarks
Job openings (May)
Wednesday, July 3:
ADP employment report (June)
Initial jobless claims (Week ending June 29)
S&P U.S. services PMI (June)
ISM services (June)
Trade deficit (May)
Factory orders (May)
FOMC June meeting minutes
Constellation Brands (STZ) reports earnings
New York Fed President John C. Williams delivers remarks
Markets close early
Thursday, July 4:
Independence Day national holiday, markets closed
Friday, July 5:
U.S. employment report (June)
The upcoming jobs report holds particular significance following recent reports of easing inflation. Federal Reserve officials are expected to scrutinize the labor market data for insights into the economy’s health and potential monetary policy adjustments.
Constellation Brands’ earnings report on Wednesday will also be a focal point amid a relatively quiet corporate calendar due to the holiday. The company’s prior quarter performance exceeded expectations, underscoring market interest in its latest financial results.
Additionally, Powell’s comments and the release of Fed meeting minutes are poised to provide further clarity on the central bank’s stance regarding inflation and interest rates.
As investors navigate through a holiday-shortened week, these key events and economic indicators are set to shape market dynamics and investor sentiment.
