U.S. stock and bond markets are closed Monday for Memorial Day. Investors will return from the long weekend to a handful of notable companies’ quarterly results.
Zoom Video Communications,
The highlight on the economic-data calendar this week will be Friday’s May jobs report from the Bureau of Labor Statistics. The consensus forecast is for a gain of 700,000 nonfarm payrolls, after a disappointing 266,000 in April. The unemployment rate is expected to tick down to 5.9%, from 6.1%.
Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for May on Tuesday and the Services equivalent on Thursday. Both are seen staying roughly even with April’s buoyant levels. The Organization for Economic Cooperation and Development also releases its latest economic outlook on Monday.
Stock and fixed-income markets are closed in observance of Memorial Day.
The Organization for Economic Cooperation and Development releases its latest economic outlook. In its March interim report, the OECD projected a 5.6% growth rate for global gross domestic product in 2021, an upward revision of a full percentage point from the December 2020 forecast.
Bank of Nova Scotia,
Canopy Growth, Hewlett Packard Enterprise, and Zoom Video Communications announce quarterly results.
The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for May. Consensus estimate is for a 60.8 reading, roughly even with the April data.
The Census Bureau reports construction spending for April. Expectations are for a 0.6% month-over-month rise to a seasonally adjusted annual rate of $1.52 trillion. Construction spending remains just below its all-time peak in January of this year.
Advance Auto Parts,
and PVH report earnings.
Philip Morris International
hosts a webcast led by CEO Jacek Olczak to discuss the company’s sustainability strategy.
The Federal Reserve releases the beige book for the fourth of eight times this year. The report presents anecdotal data on the health of the economy collected by the 12 Federal Reserve Bank districts.
ADP releases its National Employment report for May. Consensus estimate is for a 610,000 gain in nonfarm private-sector employment, following an increase of 742,000 in April.
The Bureau of Economic Analysis reports total light-vehicle sales for May. In April, they hit a seasonally adjusted annual rate of 18.5 million, the highest figure since July 2005.
The ISM releases its Services PMI for May. Consensus estimate is for a 63.2 reading, compared with April’s 62.7 figure.
hosts a conference call to discuss drug trial data from its oncology pipeline. The information will be presented at the 2021 American Society of Clinical Oncology annual meeting, which runs virtually from June 4 through June 8.
The Bureau of Labor Statistics releases the jobs report for May. Economists forecast a 700,000 rise in nonfarm payrolls, after a relatively modest 266,000 gain in April. The unemployment rate is expected to edge down to 5.9% from 6.1%. The April increase was a massive shortfall from the one million jump expected by some economists.
Write to Nicholas Jasinski at email@example.com