Key jobs reports will highlight the week's data releases. Also Amazon and Apple report their latest earnings, although cryptos and stocks have decoupled increasingly this year. JPRubin23 writes
Investors will be looking for continued signs of a cooling employment market and slowing growth, which would suggest inflation is waning and possibly buoy risk-on asset markets, although cryptos have been largely immune from significant macroeconomic events. Hot jobs data, which typically accompanies rising prices, has been a particular concern for the U.S. central bank, which raised the interest rate 25 basis points last Wednesday.
Recent productivity and consumer spending reports have been more encouraging. Friday’s 3% Personal Consumption Expenditures was lower than expectations and down from 6.8% a year ago. Among other releases, the Labor Department and Institute for Supply Management will announce June job openings and labor turnover and manufacturing index , respectively on Tuesday; ADP will report on private sector jobs on Wednesday and the Labor Department will present initial jobless claims and on Thursday. The same day, Apple and Amazon report their latest earnings.May’s 9.8 million job openings was a decline from the 10.
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