Market views heading into the week highlight what we're watching and important news ahead.
Investment Advisory Group
Truist Advisory Services, Inc.
A look back
The S&P 500 had a small decline last week, lagging international stocks’ modest gain. The energy sector led the way in the U.S.; energy is the third best performing sector year to date, but still trails the S&P 500 by over 4%.
The 2-year U.S. Treasury yield was mostly flat, but the 10-year yield jumped up to 4.37% on Friday as the curve inversion eased.
Core Personal Consumption Expenditure (PCE) was in line with expectations for May, rising 2.6% annually; this was the slowest pace in over three years. Meanwhile, the latest Univ. of Michigan data showed inflation expectations ticked down.
A look ahead
U.S. markets will close early on Wednesday and remain closed Thursday for the July 4 holiday before the all-important June jobs report is released on Friday. After May brought a surprise jump in job growth, investors will be watching closely to see if this trend continues.
Minutes from the June Federal Reserve (Fed) policy meeting will be released, providing a glimpse into the central bank’s discussion.
Economic releases: ISM Manufacturing, FOMC minutes, Nonfarm Payrolls, Unemployment Rate
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