Financial markets are preparing for a week of key economic data and central bank decisions, including the May U.S. jobs report, updates on President Trump's trade tariffs, and major corporate earnings. In the United States, the May nonfarm payrolls report is due on June 6, with economists expecting an increase of 130,000 jobs and the unemployment rate to hold steady at 4.2%. Other key data includes ISM manufacturing and services PMIs, JOLTS job openings, ADP payrolls, jobless claims, and average hourly earnings. The S&P 500 rose 6.2% in May, the Nasdaq nearly 10%, and the Dow 4%. Investors remain cautious amid ongoing trade policy uncertainty following recent legal rulings on Trump's tariffs. The US 10-year Treasury yield ended last week at 4.398%. Globally, the European Central Bank's (ECB) interest rate decision is due on June 5, with a 25 basis point cut to 2% widely anticipated. The Bank of Canada will also announce its rate decision. Other economic indicators to be released include Eurozone CPI, GDP, retail sales, and PMI data from the US, China, and Japan. Oil prices remain subdued, with Brent crude futures at $62.78 per barrel, and OPEC+ agreeing to a production hike of 411,000 barrels per day for July. In India, the Reserve Bank of India's (RBI) Monetary Policy Committee will announce its interest rate decision on June 6, with expectations of a 25 basis point cut. The Nifty closed at 24,751 and the Sensex at 81,451 last week, both down about 0.4%, while the Nifty Bank index rose 0.63%. Foreign institutional investors were net sellers, offloading Rs 418 crore, while domestic institutional investors were net buyers at over Rs 33,000 crore. The Nifty has support at 24,500 and resistance at 25,000. Earnings reports are expected from companies including Broadcom (AVGO), CrowdStrike (CRWD), DocuSign (DOCU), Lululemon (LULU), Dollar General (DG), Dollar Tree (DLTR), Five Below (FIVE), Hewlett Packard Enterprise (HPE), and Campbell Soup (CPB). Costco reported Q3 revenue of $63.2 billion and EPS of $4.28, with membership fee income at $1.2 billion. Salesforce posted Q1 revenue of $9.8 billion and EPS of $2.58. PDD reported Q1 revenue of $13.18 billion and net income of $2 billion. Other scheduled events include the Fed's Beige Book release, monthly auto sales data, and developments in global trade negotiations.
Happy Sunday! Here Are My #Top5ThingsToKnowThisWeek: 1. Trump Trade News 2. U.S. Jobs Report 3. U.S. PMI Surveys 4. $AVGO $CRWD $MDB $HPE Earnings 5. $DG $DLTR $LULU $FIVE Earnings May The Trading Gods Be With You 🙏 $DIA $SPY $QQQ $IWM $VIX https://t.co/L8h28o3pRc
Investors eye May jobs report and Trump tariff updates: What to know this week https://t.co/Q4Q19Z6YUR by @_JoshSchafer
🇺🇸U.S. ECONOMIC DATA THIS WEEK: • ISM MANUFACTURING PMI (MON.) • JOLTS JOB OPENINGS (TUES.) • ADP NONFARM PAYROLLS (WED.) • ISM SERVICES PMI (WED.) • JOBLESS CLAIMS (THURS.) • NONFARM PAYROLLS (FRI.) • UNEMPLOYMENT RATE (FRI.) • AVERAGE HOURLY EARNINGS (FRI.) $DIA $SPY