Monday, June 27, 2022: $141.66 $0.00 0.00%
Jun 27, 2022 1:04:02 GMT -8
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Post by Dave on Jun 27, 2022 1:04:02 GMT -8
Good morning. We have a green pre-market this morning. Will this be an indicator of this last week of June?
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, June 27
Nike (NKE) and Jefferies Financial Group (JEF) report earnings
Dallas Fed Manufacturing Index (June)
Durable Goods Orders (May)
Pending Home Sales (May)
Tuesday, June 28
Wholesale Inventories (May)
S&P Case-Shiller Home Price Index (April)
Freddie Mac National House Price Index (April)
Conference Board Consumer Confidence (June)
Germany GfK Consumer Confidence (June)
Wednesday, June 29
Paychex (PAYX) and General Mills (GIS) report earnings
U.S. GDP Growth Rate - Final Reading (Q1 2022)
Corporate Profits (Q1 2022)
Real Personal Consumption Expenditures (Q1 2022)
Eurozone Economic Sentiment Indicator (June)
Germany Inflation Rate (June)
Fed Chair Powell Speech
Thursday, June 30
Micron (MU), Constellation Brands (STZ), and Walgreens (WBA) report earnings
Personal Consumption Expenditures (PCE) Price Index (May)
Personal Income and Spending (June)
Chicago Purchasing Managers Index (PMI) (June)
U.K. GDP Growth Rate - Final Reading (Q1 2022)
Canada GDP Growth Rate (MoM) (April)
Germany Unemployment Rate (June)
Eurozone Unemployment Rate (May)
Friday, July 1
S&P Global Manufacturing PMI - Final Reading (June)
ISM Manufacturing PMI (June)
Eurozone Inflation Rate (June)
U.K. National Housing Prices (June)
May Personal Consumption Expenditures
On Thursday, the Bureau of Economic Analysis (BEA) will release the May update to its Personal Consumption Expenditures (PCE) price index, providing the latest reading on inflation in the U.S. PCE prices are projected to have risen 0.9% in May, accelerating sharply from a 0.2% month-over-month increase in April. On an annual basis, prices are likely to have accelerated to a 6.7% year-over-year rate compared to 6.3% in April, surpassing the March high of 6.6% and reaching a new 40-year high dating back to early 1982. The index reading will likely confirm that inflation has not yet peaked, after the May reading for the Consumer Price Index (CPI) showed consumer prices rising to a new 40-year high of 8.6% in May, their highest level since December of 1981.
Purchasing Managers' Index Surveys
Next week, the Institute for Supply Management (ISM) is expected to release a number of PMI surveys tracking the strength of the manufacturing, or goods-producing sector. The Chicago PMI, tracking manufacturing strength in the Midwestern U.S., will be released Thursday. The following day, the ISM will issue the latest reading for its national ISM Manufacturing Index, utilizing survey data from supply chain industry executives nationwide. The June reading is projected to decline to 55, from 56.1 recorded in May and compared to a pandemic-era peak above 64 recorded in March of 2021. Business sentiment has declined considerably over recent months as a result of ongoing supply chain bottlenecks, labor shortages, and high inflation that have negatively impacted goods-producing industries.
Eurozone Unemployment and Inflation Readings
On Thursday and Friday of next week, we can expect updates to the unemployment and inflation rates in the eurozone, tracking the months of May and June, respectively. Eurozone unemployment is expected to have held steady at 6.8% for the fourth consecutive month in May. Eurozone unemployment has fallen below its pre-pandemic low of 7.2% reached in early 2020, signaling a tight labor market within the currency union. Meanwhile, inflation is expected to have risen further to 8.3% in June, marking a new all-time high since the introduction of the common currency in 1999. Eurozone inflation remains well above the European Central Bank’s long-run target of 2%, and the ECB is expected to raise rates in July for the first time since 2011.
Monday, June 27
Nike (NKE) and Jefferies Financial Group (JEF) report earnings
Dallas Fed Manufacturing Index (June)
Durable Goods Orders (May)
Pending Home Sales (May)
Tuesday, June 28
Wholesale Inventories (May)
S&P Case-Shiller Home Price Index (April)
Freddie Mac National House Price Index (April)
Conference Board Consumer Confidence (June)
Germany GfK Consumer Confidence (June)
Wednesday, June 29
Paychex (PAYX) and General Mills (GIS) report earnings
U.S. GDP Growth Rate - Final Reading (Q1 2022)
Corporate Profits (Q1 2022)
Real Personal Consumption Expenditures (Q1 2022)
Eurozone Economic Sentiment Indicator (June)
Germany Inflation Rate (June)
Fed Chair Powell Speech
Thursday, June 30
Micron (MU), Constellation Brands (STZ), and Walgreens (WBA) report earnings
Personal Consumption Expenditures (PCE) Price Index (May)
Personal Income and Spending (June)
Chicago Purchasing Managers Index (PMI) (June)
U.K. GDP Growth Rate - Final Reading (Q1 2022)
Canada GDP Growth Rate (MoM) (April)
Germany Unemployment Rate (June)
Eurozone Unemployment Rate (May)
Friday, July 1
S&P Global Manufacturing PMI - Final Reading (June)
ISM Manufacturing PMI (June)
Eurozone Inflation Rate (June)
U.K. National Housing Prices (June)
May Personal Consumption Expenditures
On Thursday, the Bureau of Economic Analysis (BEA) will release the May update to its Personal Consumption Expenditures (PCE) price index, providing the latest reading on inflation in the U.S. PCE prices are projected to have risen 0.9% in May, accelerating sharply from a 0.2% month-over-month increase in April. On an annual basis, prices are likely to have accelerated to a 6.7% year-over-year rate compared to 6.3% in April, surpassing the March high of 6.6% and reaching a new 40-year high dating back to early 1982. The index reading will likely confirm that inflation has not yet peaked, after the May reading for the Consumer Price Index (CPI) showed consumer prices rising to a new 40-year high of 8.6% in May, their highest level since December of 1981.
Purchasing Managers' Index Surveys
Next week, the Institute for Supply Management (ISM) is expected to release a number of PMI surveys tracking the strength of the manufacturing, or goods-producing sector. The Chicago PMI, tracking manufacturing strength in the Midwestern U.S., will be released Thursday. The following day, the ISM will issue the latest reading for its national ISM Manufacturing Index, utilizing survey data from supply chain industry executives nationwide. The June reading is projected to decline to 55, from 56.1 recorded in May and compared to a pandemic-era peak above 64 recorded in March of 2021. Business sentiment has declined considerably over recent months as a result of ongoing supply chain bottlenecks, labor shortages, and high inflation that have negatively impacted goods-producing industries.
Eurozone Unemployment and Inflation Readings
On Thursday and Friday of next week, we can expect updates to the unemployment and inflation rates in the eurozone, tracking the months of May and June, respectively. Eurozone unemployment is expected to have held steady at 6.8% for the fourth consecutive month in May. Eurozone unemployment has fallen below its pre-pandemic low of 7.2% reached in early 2020, signaling a tight labor market within the currency union. Meanwhile, inflation is expected to have risen further to 8.3% in June, marking a new all-time high since the introduction of the common currency in 1999. Eurozone inflation remains well above the European Central Bank’s long-run target of 2%, and the ECB is expected to raise rates in July for the first time since 2011.