Post by Dave on Jul 4, 2022 1:22:13 GMT -8
Good morning and a Happy July 4th. This is the day we celebrate our great American experiment into freedom. American Exceptionalism from histories usual governments of tyranny. Where a group of men were willing to stand against a world superpower pledging their Lives, Fortunes and their sacred Honor for the opportunity to determine one’s own destiny. Happy birthday America.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, July 4
U.S. Market Holiday (Independence Day)
Tuesday, July 5
Factory Orders (May)
Eurozone S&P Global Composite PMI (June)
U.K. S&P Global Composite PMI (June)
Wednesday, July 6
S&P Global Composite PMI (June)
ISM Non-Manufacturing PMI (June)
JOLTS Job Openings, Quits, Separations (May)
FOMC Meeting Minutes (June Policy Meeting)
Thursday, July 7
Levi Strauss (LEVI) reports earnings
ADP Private Payrolls Report (June)
Trade Balance; Export and Import Growth (May)
Friday, July 8
Nonfarm Payrolls Report (June)
China Inflation Rate (June)
Labor Market Reports
Next week, market watchers will receive important updates on the strength of the U.S. labor market. On Tuesday, the Bureau of Labor Statistics (BLS) will release its Job Openings and Labor Turnover Survey (JOLTS) report tracking job openings, hires, quits, and separations for the month of May. Job openings, which stood near a record high at 11.4 million in April, are expected to have moderated slightly to 11.3 million in May. A record 4.4 million Americans quit their jobs in April, amid a historically tight labor market with high demand for workers.
On Thursday, payroll provider Automatic Data Processing (ADP) will also release its June National Employment Report tracking payroll growth within the private sector. Consensus estimates call for an increase of 200,000 positions in May, after a gain of 128,000 in April. Private sector payroll growth has decelerated markedly in recent months, from a high of 600,000 positions gained in February.
The Labor Department’s June nonfarm payrolls report will follow on Friday. Consensus estimates project 265,000 net positions were added in June, decelerating from a gain of 390,000 in May. As of May, nonfarm payrolls stood at 151.7 million, just 0.5% below the pre-pandemic peak of 152.5 million recorded in February of 2020. Continued gains over the upcoming months would allow the labor market to fully recover, and eventually surpass, its pre-pandemic level. Meanwhile, the unemployment rate is projected to have held steady at 3.6% in June, a level it has held for three consecutive months.
Levi Strauss Reports Earnings
Levi Strauss will report second-quarter earnings on Thursday, and could offer markets an early preview of what to expect heading into the corporate earnings season. Analysts are projecting earnings per share (EPS) of $0.22 for the second quarter, down significantly from $0.46 per share recorded for the company’s fiscal first quarter.
Falling consumer spending on discretionary items, driven by surging inflation and declining consumer purchasing power, is expected to negatively impact the apparel maker’s bottom line. Shares of Levi Strauss (LEVI) have fallen considerably in recent months, and are down 35% year-to-date. Along with other consumer discretionary firms, Levi Strauss has not been immune to the economic headwinds impacting the sector.
Monday, July 4
U.S. Market Holiday (Independence Day)
Tuesday, July 5
Factory Orders (May)
Eurozone S&P Global Composite PMI (June)
U.K. S&P Global Composite PMI (June)
Wednesday, July 6
S&P Global Composite PMI (June)
ISM Non-Manufacturing PMI (June)
JOLTS Job Openings, Quits, Separations (May)
FOMC Meeting Minutes (June Policy Meeting)
Thursday, July 7
Levi Strauss (LEVI) reports earnings
ADP Private Payrolls Report (June)
Trade Balance; Export and Import Growth (May)
Friday, July 8
Nonfarm Payrolls Report (June)
China Inflation Rate (June)
Labor Market Reports
Next week, market watchers will receive important updates on the strength of the U.S. labor market. On Tuesday, the Bureau of Labor Statistics (BLS) will release its Job Openings and Labor Turnover Survey (JOLTS) report tracking job openings, hires, quits, and separations for the month of May. Job openings, which stood near a record high at 11.4 million in April, are expected to have moderated slightly to 11.3 million in May. A record 4.4 million Americans quit their jobs in April, amid a historically tight labor market with high demand for workers.
On Thursday, payroll provider Automatic Data Processing (ADP) will also release its June National Employment Report tracking payroll growth within the private sector. Consensus estimates call for an increase of 200,000 positions in May, after a gain of 128,000 in April. Private sector payroll growth has decelerated markedly in recent months, from a high of 600,000 positions gained in February.
The Labor Department’s June nonfarm payrolls report will follow on Friday. Consensus estimates project 265,000 net positions were added in June, decelerating from a gain of 390,000 in May. As of May, nonfarm payrolls stood at 151.7 million, just 0.5% below the pre-pandemic peak of 152.5 million recorded in February of 2020. Continued gains over the upcoming months would allow the labor market to fully recover, and eventually surpass, its pre-pandemic level. Meanwhile, the unemployment rate is projected to have held steady at 3.6% in June, a level it has held for three consecutive months.
Levi Strauss Reports Earnings
Levi Strauss will report second-quarter earnings on Thursday, and could offer markets an early preview of what to expect heading into the corporate earnings season. Analysts are projecting earnings per share (EPS) of $0.22 for the second quarter, down significantly from $0.46 per share recorded for the company’s fiscal first quarter.
Falling consumer spending on discretionary items, driven by surging inflation and declining consumer purchasing power, is expected to negatively impact the apparel maker’s bottom line. Shares of Levi Strauss (LEVI) have fallen considerably in recent months, and are down 35% year-to-date. Along with other consumer discretionary firms, Levi Strauss has not been immune to the economic headwinds impacting the sector.