This week brings a series of key economic reports and corporate earnings that will capture market attention. Here is a day-by-day rundown of the most important events.
Monday
Data releases include China’s PMI, Japan’s capital spending and manufacturing PMI, and the Euro zone’s unemployment rate, private sector credit, and manufacturing PMI. Germany also reports retail sales. In Canada, the S&P Global Manufacturing PMI for May is due at 9:30 a.m. ET. The U.S. releases its S&P Global Manufacturing PMI for May at 9:45 a.m. ET, followed by the ISM Manufacturing PMI for May at 10 a.m. ET. Additionally, U.S. construction spending for April is expected at 10 a.m. ET, with a forecast of a 0.2% month-over-month increase. Bank of Canada Senior Deputy Governor Carolyn Rogers appears before the House Standing Committee on Public Accounts at 12 p.m. ET. Earnings include Hewlett Packard Enterprise Co.
Tuesday
The Euro zone releases its CPI. At 10 a.m. ET, the U.S. publishes the Job Openings & Labor Turnover Survey for April. Earnings reports include Dollar General Corp. and Palo Alto Networks Inc.
Wednesday
Data includes China, Japan, and Euro zone services and composite PMIs. At 8:15 a.m. ET, the U.S. ADP National Employment Report for May is released. Canadian labour productivity for Q1 comes at 8:30 a.m. ET. Canada’s S&P Global Services PMI for May is due at 9 a.m. ET, followed by the U.S. Global Services/Composite PMI for May at 9:45 a.m. ET. At 10 a.m. ET, the U.S. releases the ISM Services PMI for May and factory orders for April. The U.S. Beige Book is released at 2 p.m. ET. Earnings include Broadcom Inc., CrowdStrike Holdings Inc., Descartes Systems Group Inc., Kraken Robotics Inc., Macy’s Inc., and Medtronic PLC.
Thursday
The Euro zone reports retail sales. At 8:30 a.m. ET, the U.S. releases initial jobless claims for the week of May 30, estimated at 212,000, down 3,000 from the previous week. Also at 8:30 a.m. ET, U.S. productivity and unit labour costs for Q1 are due, with analysts projecting annualized rate rises of 0.5% and 2.5%, respectively. At 10 a.m. ET, the U.S. Global Supply Chain Pressure Index for May is released. Earnings include Enghouse Systems Ltd. and Saputo Inc.
Friday
Japan reports real cash earnings and household spending, while the Euro zone releases real GDP. At 8:30 a.m. ET, Canadian employment for May is expected, with the Street forecasting a gain of 10,000 jobs, an unemployment rate of 6.9%, and average hourly wages rising 4.5% year-over-year. Also at 8:30 a.m. ET, U.S. nonfarm payrolls for May are due, with consensus estimates of a rise of 92,000 jobs, a steady unemployment rate of 4.3%, and average hourly wages gaining 3.5% year-over-year. At 3 p.m. ET, U.S. consumer credit for April is released.
