Key Takeaways
- The market will close early on Wednesday and will be closed on Thursday for Independence Day.
- The June employment report, due on Friday, will be the highlight of a week packed with labor market data, including job openings and private payroll numbers.
- Federal Reserve Chairman Jerome Powell will speak, and the Fed is scheduled to release minutes from its June meeting.
- Beer maker Constellation Brands reports earnings.
The trading week will be shortened on Thursday due to the Independence Day holiday, but the release of the U.S. employment report on Friday will be a key data point for investors to close out the week, preceded by Federal Reserve Chairman Jerome Powell’s remarks at an international conference and followed by the release of minutes from the Fed’s June meeting.
Market participants will also have data from the manufacturing and services sectors, while beer maker Constellation Brands is due to report earnings.
Monday, July 1
- S&P US Manufacturing PMI (June)
- Construction Spending (May)
- ISM Manufacturing Index (June)
Tuesday, July 2
- Federal Reserve Chairman Jerome Powell speaks
- Job Information (May)
Wednesday, July 3
- ADP Employment Report (June)
- Unemployment claims (week ending June 29)
- S&P US Services PMI (June)
- ISM Services (June)
- Trade Deficit (May)
- Factory orders (May)
- FOMC June Meeting Minutes
- Constellation Brands (STZ) reports earnings
- Speech by New York Federal Reserve Bank President John C. Williams
- The market closes early
Thursday, July 4
- Markets are closed for Independence Day holiday
Friday, July 5
- US employment statistics (June)
Employment data highlights shortened holiday week
Few U.S. companies have events scheduled due to a midweek market closure for the Independence Day holiday, but investors will see some notable economic data released this week, including the highly anticipated jobs report.
Federal Reserve officials will be closely watching Friday’s jobs report as a key update on the labor market, after some recent inflation reports showed price pressures continuing to cool. Central bankers say keeping a close eye on employment amid improving inflation is important because an unexpected increase in the unemployment rate could trigger the Fed to cut interest rates more aggressively.
The jobs report came after the economy unexpectedly added 272,000 jobs in May, even as the unemployment rate rose to 4%. Investors will get additional labor market data with the Jobs report on Tuesday and the ADP employment report (private sector employment) due on Wednesday.
Alcoholic beverage distributor Constellation Brands has a limited corporate calendar this week, with the company reporting fiscal first-quarter 2025 earnings on Wednesday after the maker of Corona and Modelo beers reported better-than-expected earnings and sales last quarter.
Fed Chairman Powell’s remarks are scheduled before the minutes are released
Market participants will also be paying close attention to comments from Federal Reserve Chairman Jerome Powell, who will be attending the European central bank meeting along with New York Fed President John C. Williams.
The Fed is also due to release minutes from the Federal Open Market Committee’s (FOMC) June meeting on Wednesday, which could shed more light on how the central bank views inflation, interest rates and the economy.
