Reports to Watch
The week is full of key economic data from a variety of sectors.
- The ISM Index will be released on Monday followed by the ISM Services Index Thursday.
- Though not an economic report, the June Federal Open Market Committee (FOMC) meeting minutes will be released Wednesday and could spur volatility.
- Thursday also brings the onslaught of employment data with the ADP National Employment Report and weekly Initial Jobless Claims followed by the June Jobs Report on Friday, which includes Non-farm Payrolls, the Unemployment Rate and Hourly Earnings.
The clear choice for this week’s X-Factor is the June Jobs Report. The past three months have averaged 120,000 jobs per month, below the 140,000 in the same period last year. Investors will be looking for an uptick.
Federal Reserve members also will be looking as they weigh future interest rate moves in pursuit of their dual mandate of maximum employment and price stability.
Trading volumes will be on the light side given the short trading day on Monday and market closure Tuesday. This is a big vacation week for many players. If the FOMC minutes or employment data light fireworks, we’ll keep you posted.
Stay tuned to the Mortgage Market Guide and have a safe and happy 4th of July!
For more detailed information and insight, view the Economic Calendar, the Daily Market Update and Guidance, and our exclusive Market News. And don’t forget, you can easily download the Economic Calendar to your Outlook Calendar to make sure you don’t miss important economic releases. Just click here to read instructions for downloading to Outlook.