Monday June 6, 2022: $146.14 +$0.76 +0.52%
Jun 6, 2022 1:17:06 GMT -8
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Post by Dave on Jun 6, 2022 1:17:06 GMT -8
Good morning Monday. This morning’s pre-market is a nice shade of green to start the of with. Let’s hope that it follows through.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, June 6
HealthEquity (HQY) reports earnings
Tuesday, June 7
Trip.com (TCOM) and The J.M. Smucker Company (SJM) report earnings
U.S. Export and Import Growth (April)
Japan GDP Growth Rate - Final Reading (Q1 2022)
S&P Global U.K. Services PMI - Final Reading (May)
Wednesday, June 8
Campbell Soup Company (CPB), and Five Below (FIVE) report earnings
Euro Area GDP Growth Rate - Final Estimate (Q1 2022)
Thursday, June 9
DocuSign (DOCU) reports earnings
ECB Interest Rate Decision
China Inflation Rate (May)
Friday, June 10
U.S. CPI Inflation Rate (May)
Michigan Consumer Sentiment - Preliminary Reading (June)
May Inflation Update
On Friday, the Bureau of Labor Statistics (BLS) is set to release the latest update to the Consumer Price Index (CPI), tracking price gains in May. The updated reading could show whether the rate of inflation may have peaked, or if price pressures are likely to accelerate further. U.S. consumer inflation decelerated slightly to 8.3% in April, after reaching a 41-year high of 8.5% in March. Rising energy costs continue to drive price gains, with the national average price of a gallon of gas surging to a record high of $4.76, as reported by AAA.
June Consumer Sentiment Reading
Also on Friday, the University of Michigan will release the preliminary June reading to its Consumer Sentiment Index (MSCI). The sentiment indicator gauges consumers’ confidence regarding their own finances, as well as their short-term and long-term prospects for the U.S. economy at large. Given that consumer spending accounts for over two-thirds of U.S. gross domestic product (GDP), the Michigan Consumer Sentiment Index is a valuable proxy indicator for overall consumer confidence.
Consumer sentiment as measured by the MSCI hit its lowest level since August 2011 in May, dropping to 58.4 from a preliminary reading of 59.1. Concerns over high inflation, as well as pessimism regarding declining affordability in the housing market drove sentiment to its lowest level in over a decade. Consensus estimates for the preliminary June reading call for a further decline to 58.1, as persistently high inflation and growing fears of an economic slowdown continue to impact consumer confidence.
Monday, June 6
HealthEquity (HQY) reports earnings
Tuesday, June 7
Trip.com (TCOM) and The J.M. Smucker Company (SJM) report earnings
U.S. Export and Import Growth (April)
Japan GDP Growth Rate - Final Reading (Q1 2022)
S&P Global U.K. Services PMI - Final Reading (May)
Wednesday, June 8
Campbell Soup Company (CPB), and Five Below (FIVE) report earnings
Euro Area GDP Growth Rate - Final Estimate (Q1 2022)
Thursday, June 9
DocuSign (DOCU) reports earnings
ECB Interest Rate Decision
China Inflation Rate (May)
Friday, June 10
U.S. CPI Inflation Rate (May)
Michigan Consumer Sentiment - Preliminary Reading (June)
May Inflation Update
On Friday, the Bureau of Labor Statistics (BLS) is set to release the latest update to the Consumer Price Index (CPI), tracking price gains in May. The updated reading could show whether the rate of inflation may have peaked, or if price pressures are likely to accelerate further. U.S. consumer inflation decelerated slightly to 8.3% in April, after reaching a 41-year high of 8.5% in March. Rising energy costs continue to drive price gains, with the national average price of a gallon of gas surging to a record high of $4.76, as reported by AAA.
June Consumer Sentiment Reading
Also on Friday, the University of Michigan will release the preliminary June reading to its Consumer Sentiment Index (MSCI). The sentiment indicator gauges consumers’ confidence regarding their own finances, as well as their short-term and long-term prospects for the U.S. economy at large. Given that consumer spending accounts for over two-thirds of U.S. gross domestic product (GDP), the Michigan Consumer Sentiment Index is a valuable proxy indicator for overall consumer confidence.
Consumer sentiment as measured by the MSCI hit its lowest level since August 2011 in May, dropping to 58.4 from a preliminary reading of 59.1. Concerns over high inflation, as well as pessimism regarding declining affordability in the housing market drove sentiment to its lowest level in over a decade. Consensus estimates for the preliminary June reading call for a further decline to 58.1, as persistently high inflation and growing fears of an economic slowdown continue to impact consumer confidence.