Investors are celebrating the unofficial kickoff of summer this week, a period normally associated with declining activity on Wall Street. Economic data will dominate the spotlight once again, with a series of high-profile reports scheduled to make the rounds.
With the exception of the labor market, the U.S. economy has largely disappointed through the first five months of the year. Data over the next five days will confirm slower progress or signal a return to strength for the world’s largest economy. Nonfarm payrolls on Friday will offer the latest insights on the domestic jobs market.
Several companies are scheduled to report quarterly earnings this week, although a lack of star power will keep investors fixated elsewhere. No major dividend payers are on the docket over the next five days.
A combination of monetary policy and economic data drove market headlines last week. Compare this week’s Market Glance with the May 22 edition by clicking here.
No events are scheduled on Monday as investors celebrate Memorial Day. The New York Stock Exchange is also closed. Likewise, there is very little activity from the global financial markets, giving investors the opportunity to pause for a day.