It’s the Big Kahuna of economic data-- the monthly employment report.
And everyone from Wall Street to Main Street to the Fed will be focused on the May figures coming from the Labor Department on Friday.
Yahoo Finance Senior Columnist Michael Santoli calls this report even more important than usual.
“It’s going to tell us plenty about the outlook for Fed policy,” he explains. “Nobody really thinks this will make June a rate hike month, but September is going to be in there. And I think a strong number is going to have people thinking that, along with the strong housing data we got this week, maybe it’s finally time for the Fed to move.”
A day before the jobs report, the NBA finals tip off in Oakland, where the Golden State Warriors and superstar Steph Curry host the Cleveland Cavaliers, with the player considered to be the best in the world, LeBron James.
But this matchup is causing a dilemma for Yahoo Finance’s Akiko Fujita, a Los Angeles native who has a hard time getting over the long-standing rivalry between the two California cities.
“I feel a little torn,” she laments. “The Giants won the World Series. This would be two championships for San Francisco teams. That would be the nightmare scenario.”
Santoli can’t help poking a little fun at Fujita’s difficulties over this.
"But it’s called the Golden State Warriors,” he jokes. “It’s for the whole state.”
Yahoo Finance Editor in Chief Andy Serwer has his eyes on the beginning of the week. That’s because on Monday Chinese cellphone maker Xiaomi is entering the U.S. market. But as Serwer points out, it won’t be selling phones just yet.
“Chinese phones in the U.S. is a tricky business,” he explains. “It’s kind of weird. You can buy the phones but you use SIM cards.”
So what will Americans be able to buy?
“Xiaomi is going to be introducing things like headphones, athletic bands that track you, things like that,” he says.
However, Serwer is looking forward to the time when Xiaomi finally gets its number-one product here.
“It’s an interesting company,” he notes. “They make Apple-like phones that run on Android.”
And along with Xiaomi’s arrival, Serwer has another event marked on his Monday calendar.
“Ronnie Wood from the Rolling Stones, 68th birthday,” he says. “The Stones are on the Zip Code tour and on Wednesday, June 3rd they’ll be playing in the Twin Cities.”
Santoli finds 68 years old pretty youthful for the Bad Boys of rock.
“He must be the kid of the Rolling Stones,” he adds.
“He’s a youngster,” Serwer laughs.
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