Key Market Events and Economic Data for This Week

As we enter the third quarter of 2024, equity markets have surpassed expectations despite elevated interest rates. The bulk of this success can be attributed to 'big tech', but the broader market outlook has shown improvement as well.

This week is shorter due to the Independence Day holiday on Thursday. However, significant data releases are scheduled, particularly on Friday with the U.S. jobs report. Additionally, Federal Reserve Chair Jerome Powell's remarks and the release of the June Fed meeting minutes will be crucial for investors.

Key Economic Data and Earnings:

Global Events and Market Influences

Monday

• China’s Caixin Manufacturing PMI: Expected to dip slightly, shedding light on the Chinese economy.
• Japan’s Consumer Confidence Index: Forecasted to fall from 36.2 to 36, indicating consumer sentiment in Japan.

Thursday

• UK General Election: High stakes with potential significant impacts on global markets, though the odds for the incumbent are not favorable.

This week, following May's unexpected gain of 272,000 jobs despite the unemployment rate rising to 4%, the upcoming jobs report is highly anticipated. Additionally, investors are looking forward to Fed Chair Jerome Powell's remarks and the release of the Fed's June meeting minutes for insights into future economic policies and market trends.