Major U.S. stock indexes reportedly closed higher this week, with the S&P 500 hitting a new high in more than three months on Friday. The Dow Jones also rose to a three-month high. A better-than-expected non-farm payrolls report eased market concerns about the economy, while tech stocks continued to rally as Tesla (TSLA.O) rebounded from Thursday's sharp decline. However, as of June 4, U.S. equity funds saw outflows for the third week in a row due to persistent concerns about U.S. trade policy. On the commodities front, gold prices fell considerably on Thursday and Friday, but were still up overall for the week, closing at $3,311.68 an ounce. Notably, despite the slightly better-than-expected number of new non-farm payrolls in the U.S. in May, Trump once again put pressure on the Fed on social media to cut interest rates by 100 basis points. Here are the key points that the market will focus on in the new week:
Monday 09:30, China May CPI year-on-year;
Monday 22:00, US April wholesale sales month-on-month rate;
Monday 23:00, US May New York Fed 1-Year Inflation Expectations;
On Tuesday, to be determined, China's May M2 money supply year-on-year;
On Tuesday at 14:00, the UK April three-month ILO unemployment rate, May unemployment rate, and May jobless claims.
On Tuesday at 15:10, ECB Governing Council member Villeroy will give a speech.
Tuesday 18:00, US May NFIB Small Business Confidence Index;
Wednesday 20:30, US May CPI data
Wednesday 22:30, US EIA crude oil inventory, Cushing crude oil inventory, strategic petroleum reserve inventory for the week ending June 6.
Thursday at 14:00, UK April three-month GDP monthly rate, manufacturing output monthly rate
Thursday at 14:00, UK April seasonally adjusted goods trade balance, industrial production month-on-month rate
Thursday 20:30, initial jobless claims in the U.S. for the week ending June 7, U.S. May PPI
Friday 14:00, Germany May CPI MoM Final
Friday 14:00, France May CPI MoM Final
Friday 22:00, the preliminary value of the US June one-year inflation rate expectation, and the preliminary value of the Michigan University consumer confidence index for June.
The US May CPI report, to be released next Wednesday, will test the market's optimism about interest rate cuts, as it may show a stagnation in the recent downward trend of inflation. In terms of other economic data, the UK will release its three-month employment report for the period ending in April next Tuesday, and the market will be watching for any signs of increased layoffs.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
Next week, the US May CPI data will be in focus, testing the market's interest rate cut expectations.
Major U.S. stock indexes reportedly closed higher this week, with the S&P 500 hitting a new high in more than three months on Friday. The Dow Jones also rose to a three-month high. A better-than-expected non-farm payrolls report eased market concerns about the economy, while tech stocks continued to rally as Tesla (TSLA.O) rebounded from Thursday's sharp decline. However, as of June 4, U.S. equity funds saw outflows for the third week in a row due to persistent concerns about U.S. trade policy. On the commodities front, gold prices fell considerably on Thursday and Friday, but were still up overall for the week, closing at $3,311.68 an ounce. Notably, despite the slightly better-than-expected number of new non-farm payrolls in the U.S. in May, Trump once again put pressure on the Fed on social media to cut interest rates by 100 basis points. Here are the key points that the market will focus on in the new week:
Monday 09:30, China May CPI year-on-year;
Monday 22:00, US April wholesale sales month-on-month rate;
Monday 23:00, US May New York Fed 1-Year Inflation Expectations;
On Tuesday, to be determined, China's May M2 money supply year-on-year;
On Tuesday at 14:00, the UK April three-month ILO unemployment rate, May unemployment rate, and May jobless claims.
On Tuesday at 15:10, ECB Governing Council member Villeroy will give a speech.
Tuesday 18:00, US May NFIB Small Business Confidence Index;
Wednesday 20:30, US May CPI data
Wednesday 22:30, US EIA crude oil inventory, Cushing crude oil inventory, strategic petroleum reserve inventory for the week ending June 6.
Thursday at 14:00, UK April three-month GDP monthly rate, manufacturing output monthly rate
Thursday at 14:00, UK April seasonally adjusted goods trade balance, industrial production month-on-month rate
Thursday 20:30, initial jobless claims in the U.S. for the week ending June 7, U.S. May PPI
Friday 14:00, Germany May CPI MoM Final
Friday 14:00, France May CPI MoM Final
Friday 22:00, the preliminary value of the US June one-year inflation rate expectation, and the preliminary value of the Michigan University consumer confidence index for June.
The US May CPI report, to be released next Wednesday, will test the market's optimism about interest rate cuts, as it may show a stagnation in the recent downward trend of inflation. In terms of other economic data, the UK will release its three-month employment report for the period ending in April next Tuesday, and the market will be watching for any signs of increased layoffs.