What will drive the markets this week?
Last week started with slight gains in US equity markets which were lost after a heavy sell-off on Friday driven by the expected tightening of monetary policy by the US fed. Treasury notes however rose steeply throughout the week, while Crude oil prices advanced for the sixth consecutive week as the European Union’s decision to ban up to 90% of Russian oil imports raised concerns of limited supply.
This week will likely be a relatively quiet one in the financial markets. The highlight of the week will be the highly-anticipated May update to the consumer inflation rate in the U.S., which could indicate whether inflation may have peaked. Market watchers can also expect a preliminary reading on consumer sentiment for June, expected to be read on Friday.
On the corporate earnings front, first-quarter earnings are expected from Trip.com, The J.M. Smucker Company, Campbell Soup Company, Five Below, and DocuSign, among others.
Monday, June 6
- HealthEquity (HQY) reports earnings.
Tuesday, June 7
- Trip.com (TCOM) and The J.M. Smucker Company (SJM) report earnings
- U.S. Export and Import Growth (April)
- Japan GDP Growth Rate - Final Reading (Q1 2022)
- S&P Global U.K. Services PMI - Final Reading (May)
Wednesday, June 8
- Campbell Soup Company (CPB), and Five Below (FIVE) report earnings
- Euro Area GDP Growth Rate - Final Estimate (Q1 2022)
Thursday, June 9
- DocuSign (DOCU) reports earnings
- ECB Interest Rate Decision
- China Inflation Rate (May)
Friday, June 10
- U.S. CPI Inflation Rate (May)
- Michigan Consumer Sentiment - Preliminary Reading (June)