Week Ending June 3, 2023: $180.95 +$5.52 +3.05%
Jun 2, 2023 12:23:38 GMT -8
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Post by Dave on Jun 2, 2023 12:23:38 GMT -8
It’s been a good week as was continue to move in the right direction. What kind of exciting news will next week bring, good or disappointing?
What to Expect in the Markets Next Week
Events Calendar:
Monday, June 5
Apple Worldwide Developer Conference
U.S. Factory Orders (April)
Institute of Supply Management services survey (May)
JOANN, Inc. (JOAN), GitLab Inc. (GTLB), HealthEquity Inc. (HQY) will report earnings.
Tuesday, June 6
Ferguson plc (FERG), The J.M. Smucker Company (SJM), Caseys General Stores, Inc. (CASY), and Dave & Buster’s Entertainment, Inc. (PLAY) will report earnings.
Wednesday, June 7
U.S. trade deficit (April)
Consumer credit (April)
Brown Forman Corporation (BF.A), Campbell Soup Company (CPB), GameStop Corporation (GME), HashiCorp, Inc. (HCP), and Smartsheet Inc. (SMAR) will report earnings.
Thursday, June 8
Wholesale Inventories (April)
DocuSign, Inc. (DOCU), The Toro Company (TTC), Vail Resorts, Inc. (MTN), Signet Jewelers Limited (SIG), will report earnings.
Friday, June 9
NIO Inc. (NIO), Seneca Foods Corporation (SENEA), Aniza Biosciences, Inc. (ANIX), and Nathan’s Famous, Inc. (NATH) will report earnings.
Apple’s Worldwide Developers Conference
Kicking off the week on Monday, Apple will host its worldwide developers conference, where it is expected to release updates to its operating systems, new Macs, and unveil a mixed reality headset just days after Meta released its latest virtual reality (VR) headset on Thursday. The keynote is scheduled for 1 p.m. ET.
The Latest On the U.S. Trade Deficit
On Wednesday, we’ll get the latest updates on the U.S. trade deficit from the U.S. Department of Commerce. The trade gap is projected to have widened in April to an estimated $75 billion, from $64.2 billion in March. The trade deficit is an important measure of the economy, as a narrowing trade deficit contributes to the nation’s gross domestic product or GDP.
Consumer Credit Data
On Wednesday, the Federal Reserve will release data on consumer credit, giving insight on the state of U.S. consumer borrowing in April. In March, consumer borrowing rose $26.5 billion, the fastest pace in four months, with credit card balances rising 17.3%. The March report showed that consumer spending has stayed strong, despite higher borrowing costs due to the Federal Reserve’s interest rate hikes. Consumer borrowing is projected to decrease in April, to about $20 billion.
What to Expect in the Markets Next Week
Events Calendar:
Monday, June 5
Apple Worldwide Developer Conference
U.S. Factory Orders (April)
Institute of Supply Management services survey (May)
JOANN, Inc. (JOAN), GitLab Inc. (GTLB), HealthEquity Inc. (HQY) will report earnings.
Tuesday, June 6
Ferguson plc (FERG), The J.M. Smucker Company (SJM), Caseys General Stores, Inc. (CASY), and Dave & Buster’s Entertainment, Inc. (PLAY) will report earnings.
Wednesday, June 7
U.S. trade deficit (April)
Consumer credit (April)
Brown Forman Corporation (BF.A), Campbell Soup Company (CPB), GameStop Corporation (GME), HashiCorp, Inc. (HCP), and Smartsheet Inc. (SMAR) will report earnings.
Thursday, June 8
Wholesale Inventories (April)
DocuSign, Inc. (DOCU), The Toro Company (TTC), Vail Resorts, Inc. (MTN), Signet Jewelers Limited (SIG), will report earnings.
Friday, June 9
NIO Inc. (NIO), Seneca Foods Corporation (SENEA), Aniza Biosciences, Inc. (ANIX), and Nathan’s Famous, Inc. (NATH) will report earnings.
Apple’s Worldwide Developers Conference
Kicking off the week on Monday, Apple will host its worldwide developers conference, where it is expected to release updates to its operating systems, new Macs, and unveil a mixed reality headset just days after Meta released its latest virtual reality (VR) headset on Thursday. The keynote is scheduled for 1 p.m. ET.
The Latest On the U.S. Trade Deficit
On Wednesday, we’ll get the latest updates on the U.S. trade deficit from the U.S. Department of Commerce. The trade gap is projected to have widened in April to an estimated $75 billion, from $64.2 billion in March. The trade deficit is an important measure of the economy, as a narrowing trade deficit contributes to the nation’s gross domestic product or GDP.
Consumer Credit Data
On Wednesday, the Federal Reserve will release data on consumer credit, giving insight on the state of U.S. consumer borrowing in April. In March, consumer borrowing rose $26.5 billion, the fastest pace in four months, with credit card balances rising 17.3%. The March report showed that consumer spending has stayed strong, despite higher borrowing costs due to the Federal Reserve’s interest rate hikes. Consumer borrowing is projected to decrease in April, to about $20 billion.