Market Notes for 6/29-7/3
Market Notes for 6/29-7/3
Market Notes for 6/29-7/3
Prior week recap: SPX closed Friday 6/26 at 7,354.02, the worst week in months. The Nasdaq did the real damage, −4.6% on the week and a fifth straight losing session into Friday; the Dow actually rose ~0.6%, a rotation week, not a wholesale liquidation. We enter the new week below the 7,400 gamma flip, into a holiday-shortened jobs week, with VIX back to ~19.
Economic Calendar this week:
Mon 6/29 — No noteworthy data. Quarter-end / half-year-end positioning; first session after Friday’s Russell reconstitution.
Tue 6/30 — Month-end, quarter-end, H1-end — watch rebalancing flows. Data: Chicago PMI (June) and Conference Board Consumer Confidence (June).
Wed 7/1 — Q3/H2 begins. ADP private payrolls (June, 8:15AM), S&P Global final mfg PMI (9:45AM), ISM Manufacturing PMI (June, 10AM), JOLTS job openings (May, 10AM), Construction Spending. Warsh speaks on a panel at the ECB’s Sintra forum.
Thu 7/2 — 8:30AM: June jobs report (consensus ~172K NFP, unemployment ~4.3%), plus weekly jobless claims, trade balance, and factory orders.
Fri 7/3 — MARKETS CLOSED.
