Stock and bond markets closed early on Wednesday and are closed on Thursday for Independence Day. Labor market data will be the focus this week.
On Tuesday, the Bureau of Labor Statistics will release its Job Openings and Labor Force Turnover Survey, which estimates job openings will hit 7.9 million on the last business day of May, down about 150,000 from April.
The BLS then releases its June jobs report on Friday. The consensus forecast is for nonfarm payrolls to have risen by 195,000 after the U.S. economy added 272,000 jobs in May. The unemployment rate is projected to remain at 4%.
Key items to watch this week include the release of the Institute for Supply Management (ISM) manufacturing purchasing managers’ index for June on Monday and the services purchasing managers’ index on Wednesday. The consensus forecast for the manufacturing purchasing managers’ index is 49.2, slightly up from May’s reading.
Also on Wednesday, the Federal Open Market Committee is scheduled to release the minutes of its mid-June meeting.
Advertisement – Scroll to continue
Monday, July 1
Institute of Supply Management The Manufacturing Purchasing Managers’ Index for June is released. The consensus estimate is 49.2, slightly higher than the May figure.
Census Bureau Construction spending data reported for May. Economists expect construction spending to increase 0.3% from the previous month to a seasonally adjusted annual rate of $2.11 trillion.
Tuesday, July 2
Bureau of Labor Statistics The government releases the Job Openings and Labor Mobility Survey. Job openings are expected to reach 7.9 million on the last business day of May, about 150,000 fewer than in April. Job openings are beginning to normalize after three years of high levels since the pandemic began.
Wednesday, July 3
Constellation Brands
Advertisement – Scroll to continue
Announced first quarter financial results for fiscal year 2025.
Federal Open Market Committee The Bank released the minutes of its monetary policy meeting in mid-June.
India The US Federal Reserve released its national employment report for June. The consensus forecast is for private sector payrolls to have increased by 164,000, following a previous increase of 152,000.
Advertisement – Scroll to continue
ISM is The June Services Purchasing Managers’ Index is released. The forecast is 52.8, one point lower than May.
Thursday, July 4
Stock and bond markets Closed for Independence Day.
Friday 7/5
BLS (British Bureau of Labour Statistics) The U.S. government releases its June jobs report. Economists expect nonfarm payrolls to increase by 195,000, following a 272,000 increase in May. The unemployment rate is expected to remain unchanged at 4%.
—Dan Lamb contributed to this article.
Email Nicholas Jasinski at nicholas.jasinski@barrons.com.
