THIS WEEK'S MAJOR U.S. ECONOMIC REPORTS & FED SPEAKERS

TIME (ET) REPORT PERIOD ACTUAL MEDIAN FORECAST PREVIOUS

MONDAY, JULY 4
Independence Day holiday. None scheduled

TUESDAY, JULY 5
10 am Factory orders May -- 0.3%
10 am Core capital equipment orders revision May -- 0.3%

WEDNESDAY, JULY 6
9:45 am S&P Global U.S. services PMI (final) June -- 51.6
10 am ISM services index June -- 55.9%
10 am Job openings May -- 11.4 million
10 am Quits May -- 4.4 million

THURSDAY, JULY 7
8:30 am Initial jobless claims July 2 -- 231,000
8:30 am Continuing jobless claims June 25 -- 1.33 million
8:30 am Foreign trade balance May -- -$87.1 billion

FRIDAY, JULY 8
8:30 am Nonfarm payrolls (monthly change) June -- 390,000
8:30 am Unemployment rate June -- 3.6%
8:30 am Average hourly earnings June -- 0.3%
8:30 am Labor force participation rate, 25-54 June -- 82.6%
10 am Wholesale inventories revision May -- 2.0%

Economic outlook

Up Next for the Markets: July 4 – July 8

James Chen
Head of Content Studio, J.P. Morgan Wealth Management

Jun 28, 2022 | 3 min read

• The stock market is closed Monday in observance of Independence Day.

• Investors will get a sense of how the job market is faring with initial and existing unemployment claims, job turnovers, the unemployment rate and the ADP’s national employment report all slated for release this week.

How employment is holding up in the wake of soaring inflation and skyrocketing gas prices will be on display this week with a bevy of employment data scheduled for release. First out of the gate is the JOLTs report for May, which tracks the number of job openings for the month. Job openings fell by nearly half a million in April, narrowing a wide gap between vacancies and job candidates. Investors will be paying close attention to see if that gap narrowed further in May

Also on tap on the jobs front is the ADP’s national employment report, which tracks hiring in the private sector and the unemployment rate for May. Also on the agenda this week is factory orders for May and jobless claims for the previous week.

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