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Morning Matters:

The Week Ahead
by Geoff Garbacz

July 2, 2018

The Russell 2000 was lower for the week along with the S&P 100, NASDAQ 100 and Dow Jones Industrial Average. The Big Picture [monthly bias] for the NASDAQ 100, the Dow Jones Industrial Average, Russell 2000 and the S&P 100 remain positive.

1.Geopolitical and Fiscal Events. Thursday sees the latest FOMC minutes released.

2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well construction spending, ISM index, factory orders, ADP Payroll, ISM services, FOMC minutes, Nonfarm Payroll and the unemployment rate.

3.Earnings Releases. Notable releases this upcoming week include MLHR AYI SFUN AZZ PSMT ISCA.

Monday, July 2

May Construction Spending is due out at 10:00 a.m. EDT and is expected to fall to 0.6% from 1.8%.

At the same time, June ISM Index is due out and expected to fall to 58.5 from 58.7.

Tuesday, July 3

May Factory Orders are due out at 10:00 a.m. EDT and are expected to improve to -0.2% from -0.8%.

The U.S. Stock Market closes at 1:00 p.m. so investors can get a jump on Wednesday’s activities.

Wednesday, July 4

U.S. markets are closed for the 4th of July celebrations in the U.S.

Thursday, June 28

June ADP Payroll is due out at 8:15 a.m. EDT and is expected to rise to 180,000 from 178,000.

May ISM Services is due out at 10:00 a.m. EDT and is expected to fall to 58.3 from 58.6.

The latest Federal Reserve Open Market Committee (FOMC) Minutes is released at 2:00 p.m. EDT.

Friday, June 29

June Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to fall to 223,000 from 195,000 while the unemployment rate is expected to remain at 3.8%.

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