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Wall Street surged on Thursday after the June nonfarm payrolls report exceeded expectations, adding 147,000 jobs versus the 110,000 forecast, while the unemployment rate fell to 4.1% compared to the anticipated 4.3%. The report eased concerns regarding potential economic weakness. U.S. stocks ended mostly higher on Wednesday as well, after a positive trade development overshadowed an unexpected dip in U.S. June private sector employment. U.S. President Donald Trump said a trade deal had been reached with Vietnam, under which the U.S. will get “total access” to the Vietnamese market. Vietnam will pay a 20% tariff on goods sent into the U.S.
After the much-needed calm of a holiday-shortened week, investors will keep a close eye on the economic events of next week, such as the Fed’s Balance Sheet on Monday, and NFIB Small Business Optimism Index, and Consumer Credit on Tuesday. Wednesday will include important economic reports such as MBA Mortgage Applications, and Atlanta Fed GDP, while Thursday will see the release of Jobless Claims. The week will end with the release of reports on the Baker Hughes Rig Count, and the Federal Budget Balance.
Delta Air Lines (DAL), Conagra Brands (CAG), Levi Strauss (LEVI), Unity (UNTY), and Trilogy Metals (TMQ) will report earnings next week.
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Earnings spotlight: Tuesday, July 8: Penguin Solutions (PENG). See the full earnings calendar.
Earnings spotlight: Wednesday, July 9: Trilogy Metals (TMQ) See the full earnings calendar.
Earnings spotlight: Thursday, July 10: Delta Air Lines (DAL), Conagra Brands (CAG), Levi Strauss (
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