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Weekly Market Intro – US inflation and GDP data on focus

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The main Wall Street indexes ended the last week into the green, as the weak data on the country’s economy raised expectations for monetary policy mitigation from the Federal Reserve. The Dow Jones Industrial Average gained 1,168.90 points, or 4.7%, to 25,983.94 past week, while the S&P 500 rose by 4.4%, to 2,873.34, and the Nasdaq Composite advanced by 3.9%, to 7,742.10. It was the best week for all three indexes since November 2018 and the blue-chip index also interrupted its six-week losing streak.

The new week will offer important macro data, as well as some key earnings reports, which will dictate the market sentiment.

Among the most important macro data expected in the second week of June are the GDP of Japan, GDP and industrial output in the US, industrial output in China, and retail sales in the United States.

Upcoming economics data

On Monday, June 10, Japan will release the GDP data for the first quarter with the consensus forecast to maintain the growth of 0.5% over the last three months of last year. Later will be released the Chinese trade balance for May. There will be a series for data in the UK, including construction output in April, GDP, industrial output and trade balance. Canada will publish building permits in April and the construction of new buildings started in May. The day is off for Australia, Austria, Switzerland, and Germany.

On Tuesday, June 11, will be published the UK Labor Market data. In the US, markets will follow the producer price index in May.

On Wednesday, June 12, the day will begin with data on China’s inflation for May. The consumer price index is expected to keep its 0.1% growth rate from the previous month. In the UD will be released the data on inflation as well as crude oil stocks. The day is off in Russia.

On Thursday, June 13, there will be data on the labor market in Australia. On the territory of Europe, the day will begin with data on inflation in Germany with the consensus forecast to maintain the rate of 0.2%. In Switzerland there will be a meeting of the central bank on the monetary policy of the country. Data on industrial output will be released for the eurozone for April. The Organization of Petroleum Exporting Countries will publish its monthly report. In the US will be released the data on crude oil inventories.

On Friday, June 14, the focus of the markets will be turned on industrial production in China, as well as retail sales and unemployment. The Russian Central Bank will hold a meeting on monetary policy, with markets expecting to lower interest rate from 7.75% to 7.50%. The investors will also focus on retail sales and industrial production in the United States for May.

Upcoming earnings reports

On Monday, June 10, will be published the earnings report of the furniture retailer LoveSac.

On Tuesday, June 11, will be released the financial statements of the chain of pizza restaurants and convenience stores Casey’s General Stores, shipowner Globus Maritime Limited, and the fiber optic cable manufacturing company Optical Cable Corporation.

On Wednesday, June 12, the markets will focus on the financial report of the smartphone application Zedge Inc, as well as Streamline Health Solutions.

On Thursday, June 13, will be published the earnings reports of Crown Crafts, Secoo Holding Limited and PURE Bioscience. The key event on the market will be the financial statement of the US semiconductor manufacturer Broadcom Inc.

On Friday, June 14, the markets will expect the financial reports of the Chinese mobile network Cheetah Mobile, as well as China Online Education Group.