⚠️Week Ahead Watchlist – July 1-5:
• Monday: ISM Mfg. PMI
• Tuesday: JOLTs; Fed Chair Powell Speech
• Wednesday: ADP Payrolls, Jobless Claims, ISM Services PMI; Fed Minutes; U.S. Stocks Close At 1PM
• Thursday: 4th of July Holiday - U.S. Stocks Closed
• Friday: Jobs Report
- The prospect of French political gridlock sent European markets higher on Monday, with investors bidding up the euro and pushing the CAC 40 Index to its biggest gain since 2022.
- Futures tied to the Dow Jones Industrial Average added 67 points, or 0.2%, while S&P 500 futures gained 0.1%. Nasdaq-100 futures traded marginally higher.
- Wall Street is coming off a losing session for the major averages, of a strong finish to the first half of the trading year.
- Some expect this technology-driven momentum to persist at least through the summer, despite some fears that multiples have hit heightened levels.
- Monday kicks off a holiday-shortened trading week, with the market closed Thursday for Fourth of July.
- Investors will get a big clue into the state of the labor market Friday with the June jobs report.
- Beforehand, S&P PMI manufacturing and ISM manufacturing data for June are due out Monday, along with may construction spending.
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