Markets Brace for 92,000 U.S. Jobs Report in Data-Heavy June 1-5 Week
Updated
Updated · The Globe and Mail · May 29
Markets Brace for 92,000 U.S. Jobs Report in Data-Heavy June 1-5 Week
2 articles · Updated · The Globe and Mail · May 29
Friday’s U.S. nonfarm payrolls headline the June 1-5 calendar, with economists expecting 92,000 jobs, a 4.3% unemployment rate and 3.5% annual wage growth.
That labor report caps a week packed with market-moving releases, including Monday’s U.S. ISM manufacturing survey, Tuesday’s euro zone CPI, Wednesday’s ADP jobs data and ISM services, and Thursday’s jobless claims.
Canada also faces key tests: May employment is forecast to rise by 10,000, unemployment is seen holding at 6.9%, and average hourly wages are expected to stay up 4.5% from a year earlier.
Outside North America, investors will track China and Japan PMIs, euro zone unemployment and GDP, Germany retail sales, and Japan household spending for clues on global demand.
Corporate results from Broadcom, CrowdStrike, Hewlett Packard Enterprise, Palo Alto Networks, Macy’s and Medtronic add a second stream of catalysts alongside the economic data.
With a strong U.S. economy and a conflict-strained Europe, will this week's data confirm a widening transatlantic economic gap?
Amid rising inflation and a resilient job market, which report this week will finally tip the Federal Reserve's hand on rates?
As AI drives record profits and job cuts, will upcoming tech earnings confirm this trend is accelerating?