Next week on Wall street, investors will brace for multiple economic data including the jobs report for June.
US employment report for June will be released on next Friday.
Other economic data slated for release next week are—a report on construction spending, data on factory orders and a report on initial jobless claims.
Investors will also keenly watch the outcome of the Federal Open Market Committee (FOMC) minutes, scheduled to be out on Wednesday. Through the FOMC minutes, investors will try to get insights into the US central bank’s future course of direction.
Next week, earnings reports of following companies are due — Levi Strauss, Kura Sushi, Simulations Plus, AZZ and Urban One.
In the following week, second quarter corporate results will start. Investors will focus on earnings from seven tech and other megacap companies, including Apple, Microsoft and Nvidia.
In the week ahead, bank stocks will remain in focus after major US banks cleared Federal Reserve’s annual stress tests last week.
On Friday, US stock indices had rallied on signs of easing inflation.
The Dow Jones Industrial Average rose 285.18 points, or 0.84%, to 34,407.6. The S&P 500 gained 53.94 points, or 1.23%, to 4,450.38. The Nasdaq Composite added 196.59 points, or 1.45%, to 13,787.92.
On Friday, the 10-year treasury yield fell to 3.82% from nearly 3.87%. The two-year treasury yield slipped to 4.88% from 4.90%.
The US dollar on Friday fell to 144.30 Japanese yen from 144.90. The euro rose to $1.0911 from $1.0868.
On Friday, Brent crude for August delivery rose 56 cents to $74.90 a barrel. US crude oil benchmark for August delivery rose 78 cents to $70.64 a barrel.
Gold for August delivery on Friday rose $11.50 to $1,929.40 an ounce. Silver for September delivery rose 22 cents to $23.02 an ounce.
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Updated: 02 Jul 2023, 11:12 PM IST