Investors Prep For A Key Jobs Report


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The major economic data release next week will be the U.S. jobs report on Friday. The update on nonfarm job additions will be the last one before the Federal Reserve meets on June 11-12, amid growing uncertainty on the timing of rate cuts. The April PCE inflation report released Friday showed the Fed’s official target, the 12-month Core PCE, came in at 2.8%, steady from March’s reading. On Seeking Alpha, analyst Logan Kane noted that the Fed is starting to see its rate hiking campaign bite the economy. He also highlighted that while the most anticipated recession in history has been delayed, it almost certainly hasn’t been avoided. Things are a little bit different across the Atlantic, where the European Central Bank is highly anticipated to announce an interest rate cut on June 6.

The earnings schedule for next week includes reports from Hewlett Packard Enterprise (NYSE:HPE), Lululemon (LULU), and NIO (NIO). The event calendar is loaded with conferences, including Nareit REITweek and COMPUTEX Taiwan. Walmart (WMT) will also be in the spotlight next week, with a shareholder meeting and its traditional Associates Celebration scheduled on separate days. Investors will also be watching Nvidia (NVDA) just ahead of the 10-for-1 stock split that becomes effective after the close on Friday.

Earnings spotlight: Monday, June 3 – GitLab (GTLB) and Science Applications (SAIC). See the full earnings calendar.

Earnings spotlight: Tuesday, June 4 – CrowdStrike (CRWD), PVH (PVH), Hewlett Packard Enterprise (HPE), and Bath & Body Works (BBWI). See the full earnings calendar.

Earnings spotlight: Wednesday, June

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