U.S. investors will wake up to several market-moving headlines this week, as global markets take center stage. Economic data, monetary policy and a snap parliamentary election in the United Kingdom are expected to keep the financial markets buzzing over the next five days.
On the domestic front, an active Monday session gives way to a lighter release schedule over the next four days, giving investors the opportunity to focus on global events. Global data flows will shift some of the focus away from a tumultuous political scene in Washington that triggered sharp volatility on Wall Street last month.
Nonfarm payrolls headlined the economic calendar during Memorial Day week. To compare this week’s Market Glance with the previous edition, click here.
If you’re interested in global economic data, be sure to check out foreign dividend stocks that are more likely to be influenced by them.
A deluge of U.S. economic data will make the rounds Monday, beginning with a pair of PMI reports from IHS Markit and the Institute for Supply Management (ISM). The services purchasing managers’ index (PMI) provides a monthly snapshot of the U.S. services sector, which is a major driver of economic growth.
Separately, the Commerce Department will report on April factory orders, a key barometer of manufacturing demand. The Federal Reserve will also release its labor market conditions index, which complements the previously released nonfarm payrolls report.
On the international scene, Markit will release final May PMI data for Germany, the United Kingdom and the Eurozone.