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U.S. stocks are poised for a muted opening on Monday ahead of a week of updates on the nation’s labor market, and the Federal Open Market Committee’s minutes from its June monetary-policy discussion.
At 6:30 p.m. Eastern Time on Sunday, Dow Jones Industrial Average futures were flat as were S&P 500 futures, and Nasdaq Composite futures inched up 0.1%.
Crude oil futures (West Texas Intermediate, the U.S. standard) fell 0.3% to $70.44 a barrel. Brent crude, the international standard, fell 0.3% to $75.17 a barrel.
Notable earnings this week include Levi Strauss & Co. on Thursday.
This week’s notable economic events include: On Monday, the Nasdaq and New York Stock Exchange will have shorter regular trading hours, closing at 1 p.m. Eastern time ahead of Independence Day. Also Monday, the Census Bureau reports construction spending data for May, and the Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for June.
On Tuesday, stock and fixed-income markets are closed in observance of Independence Day, and the Reserve Bank of Australia will announce its monetary-policy decision. On Wednesday, the Federal Open Market Committee will release the minutes from its June 13-14 monetary-policy meeting, at which policy makers decided to hold interest rates steady after 10 straight increases.
On Thursday, the Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey of job openings for May; the Institute for Supply Management releases its Services Purchasing Managers’ Index for June; and ADP will release its National Employment Report on private-sector jobs for June.
On Friday, the BLS will release the jobs report for June, including nonfarm payrolls, average hourly earnings, and the unemployment rate.
Write to Janet H. Cho at [email protected]
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