What will drive the markets this week?
Major equities rallied to end the month of May on a positive note amid optimism over the recovery of the US and European economies. Industrial, energy, and recovery-related stocks have been leading the charge higher in the stock market, as governments focus their recovery efforts by investing in these sectors.
This week, investors will parse the May U.S. unemployment report, several key reports on global manufacturing, U.S. mortgage applications for May, and earnings from several companies including Zoom Video Communications.
Manufacturing has been the workhouse of this recovery and regional economies that are heavily dependent on it, like Canada and Germany, have seen their stock markets rise amid the economic upswing. Investors will digest key manufacturing reports out of the U.S, Europe, Great Britain, and Canada.
Monday May 31:
- Market Holiday in the U.S. for Memorial Day and in the U.K. for Bank Holiday.
- Indian Gross Domestic Product (GDP) (Q4).
- German Consumer Price Index (CPI) (May).
- Canadian Current Account (Q1).
- Chinese Caixin Manufacturing PMI (May).
Tuesday June 1:
- Earnings: Zoom Video Communication.
- U.K. House Price Index (HPI) (May).
- German Retail Sales (April).
- Italian Manufacturing PMI (May).
- French Manufacturing PMI (May).
- German Unemployment Rate (May).
- U.K. Manufacturing PMI (May).
- Brazilian GDP (Q1).
- Canadian GDP (Q1).
- U.S. Institute for Supply Management (ISM) Manufacturing PMI (May).
Wednesday June 2:
- U.S. Weekly Mortgage Applications and Mortgage Market Index.
- German Retail Sales (April).
- Brazilian IPC-Fipe Inflation Index (May).
- Brazilian Industrial Production (May).
- Canadian Building Permits (May).
- U.S. Federal Reserve Beige Book.
- Chinese Caixin Services PMI (May).
- Japanese Services PMI (May).
Thursday June 3:
- Market Holiday in Brazil for Corpus Christi Day.
- German Services PMI (May).
- French Services PMI (May).
- Italian Services PMI (May).
- U.K. Services PMI (May).
- U.S. Services PMI (May).
- U.S. ISM Non-Manufacturing PMI (May).
- U.S. ISM Non-Manufacturing Employment (May).
- U.S. Nonfarm Productivity (Q1).
- U.S. ADP Nonfarm Employment Charge (May).
- U.S. Markit Composite PMI (May).
- Japanese Household Spending (April).
Friday June 4:
- Reserve Bank of India Interest Rate Decision.
- U.K. Construction PMI (May).
- Eurozone Retail Sales (April).
- U.S. Nonfarm Payrolls (May).
- U.S. Unemployment Rate (May).
- U.S. Labor Force Participation Rate (May).
- Canadian Ivey PMI (May).
- Canadian Unemployment Rate (May).