Jobs Report, $BBBY Earnings — Your Trading Week Ahead

Welcome to Your Trading Week Ahead for June 27th. Here’s what you need to know before you go…

Quick recap

Equity markets finished the week strong. The S&P 500 closed 2.74% higher at 4,280. Nasdaq finished at 14,360 — up 2.35% from the previous week. The Dow regained nearly all of its losses from the previous week, closing higher by 3.43% at 34,433.

Major indices gapped up to start the week after the FOMC and Chairman Powell’s monetary policy comments sent markets lower the week prior. Stock bulls continue to blaze a path higher as we head into summer.

What to watch this week

Jobs report

Keep an eye on June’s Non-farm payroll report and unemployment data being released on Friday. It’s the highlight of the coming week and a pivotal look at the economic recovery.

Economists are expecting about 700,000 jobs added. That would be better than the 559,000 in May, but below the payroll creation of 1 million per month forecasted several months ago.

Jim Cramer recently quelled potential concerns over the report on CNBC’s Mad Money:

“Next week’s all about Friday’s nonfarm payroll report. Regardless of what the actual number is, the inflation hawks are going to come on TV, they’re going to make a lot of noise about how the economy’s overheating and the Fed needs to tighten immediately. Don’t even bother to listen to them.”

Earnings roundup

There are several popular companies set to report earnings this week.

On Wednesday, we’ll get quarterly data from WallStreetBets favorite Bed Bath & Beyond ($BBBY) before the bell. So, expect increased volatility. We’ll also hear from Constellation Brands ($STZ) premarket. Semiconductor manufacturer Micron ($MU) reports after the close.

Walgreens ($WBA) will kick off the month of July when they share Q3 data Thursday morning. We’ll also see if McCormick ($MKC) has anything spicy in store regarding their Q3 report before the bell.

Economic calendar

There’s no shortage of events on the calendar this week with the potential to move markets. Here’s some of the most important things to watch:

• New York Fed President John Williams speaks at BIS panel – Monday at 9am ET
• Consumer confidence index – Tuesday at 10am ET
• ADP employment report (June) – Wednesday at 8:15am
• Chicago PMI – Wednesday at 9:45am ET
• Pending home sales (May) – Wednesday at 10am ET
• Jobless claims – Thursday at 8:30am ET
• Manufacturing PMI – Thursday at 9:45am ET
• ISM Manufacturing – Thursday at 10am ET
• U.S. Non-farm payroll and unemployment rate (June) – Friday at 8:30am ET

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