What will drive the markets this week?
Global stocks closed higher last week, with the S&P 500 index booking the best week since February. European and Asian stocks tracked the positive US performance.
Investors have high expectations going into this week as stocks continue to rise higher on hopes that inflation is as transitory as the Fed says, and that more government spending is on the way if an infrastructure bill is approved in the US.
This week investors will parse a flurry of economic reports across the world, including the U.S. housing and labor markets, in addition to key earnings reports from Bed Bath & Beyond which has been among the recent favorites of day traders on the WallStreetBets forum.
Monday, June 28:
- Japanese Retail Sales (May).
Tuesday, June 29:
- U.K. House Price Index (June).
- U.S. Standard & Poor’s / Case-Shiller Home Price Index Composite - 20 n.s.a. (April).
- Conference Board Consumer Confidence (June).
- Japanese Industrial Production (June).
- Chinese Manufacturing Purchasing Managers’ Index (PMI) (June).
- Chinese Non-Manufacturing PMI (June).
Wednesday, June 30:
- Earnings: Bed Bath & Beyond, and General Mills.
- U.K. Gross Domestic Product (GDP) (Q1).
- German Unemployment Rate (June).
- French Consumer Spending (May).
- U.S. ADP Nonfarm Employment Change (June).
- U.S. Chicago PMI (June).
- U.S Pending Sales (May).
- Japanese Tankan Large Manufacturers and Non-Manufacturers Indexes (Q2).
- Chinese Caixin Manufacturing PMI (June).
Thursday, July 1:
- Market Holidays in Hong Kong and Canada for Establishment Day and Canada Day, respectively.
- German Retail Sales (May).
- German Manufacturing PMI (June).
- U.K. Manufacturing PMI (June).
- French Manufacturing PMI (June).
- Italian Manufacturing PMI (June).
- Eurozone Manufacturing PMI (June).
- U.S. Institute for Supply Management (ISM) Manufacturing PMI (June).
- U.S. Manufacturing PMI (June).
Friday, July 2:
- Brazilian IPC-Fipe Inflation Index (June).
- Brazilian Industrial Production (May).
- U.S. Average Hourly Earnings (June).
- U.S. Nonfarm Payrolls (June).
- U.S. Labor Force Participation Rate (June).
- U.S. Unemployment Rate (June).
- U.S. Trade Balance (May.)
- Canadian Trade Balance (May).
- Canadian Build Permits (May).