U.S. markets close in 2 hours 26 minutes
  • S&P 500

    4,228.76
    -54.98 (-1.28%)
     
  • Dow 30

    33,743.72
    -255.32 (-0.75%)
     
  • Nasdaq

    12,686.44
    -278.91 (-2.15%)
     
  • Russell 2000

    1,961.35
    -39.38 (-1.97%)
     
  • Crude Oil

    91.03
    +0.53 (+0.59%)
     
  • Gold

    1,763.10
    -8.10 (-0.46%)
     
  • Silver

    19.05
    -0.42 (-2.15%)
     
  • EUR/USD

    1.0041
    -0.0051 (-0.50%)
     
  • 10-Yr Bond

    2.9780
    +0.0980 (+3.40%)
     
  • GBP/USD

    1.1826
    -0.0107 (-0.89%)
     
  • USD/JPY

    136.8800
    +1.0180 (+0.75%)
     
  • BTC-USD

    21,514.63
    -1,883.08 (-8.05%)
     
  • CMC Crypto 200

    511.90
    -29.70 (-5.48%)
     
  • FTSE 100

    7,550.37
    +8.52 (+0.11%)
     
  • Nikkei 225

    28,930.33
    -11.77 (-0.04%)
     
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Jobs report, Fed minutes, earnings: Economic data on tap this week

In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Yahoo Finance’s Alexandra Semenova joins the Live show to discuss the economic expectations for the week.

Video Transcript

- Well, investors are eyeing key economic data coming out this week, with the jobs report on tap this Friday. Yahoo Finance's Alexandra Semenova joins us now to preview what to expect.

ALEXANDRA SEMENOVA: Yeah guys, it sometimes feels like these shortened trading weeks are busier than the regular weeks, and that certainly seems to be the case after this 4th of July weekend. We have a lot on the agenda. We have most importantly, the jobs report on Friday, several other key employment reports. We have the Federal Reserve's meeting minutes out on Wednesday. And even though we're in a bit of a lull between the last earnings season and next week when banks kick off earnings again, we do have a notable report out from Levi's on Thursday.

But front and center will be that June jobs report. It is always one of the most comprehensive releases that we get, but particularly now as investors are looking for possible signs of a slowdown in the labor market. And estimates right now are expecting that 273,000 jobs were created during the month of June. That is a slowdown from the 390,000 jobs that we got the prior month, but it doesn't necessarily reflect the doom and gloom scenario that we've been getting from some company leaders.

We've heard layoff announcements, but so far, they seem to be very industry-specific. and investors will be looking to see how that report turns out. When you put it into perspective, we were getting about 150,000 to 200,000 jobs a month before the pandemic. So that 275,000 figure is still pretty solid.

- We've also got FOMC meeting minutes on the agenda. What are investors going to be looking out for there?

ALEXANDRA SEMENOVA: Yeah, that's going to be a big one, obviously. We're going to see some of the thinking behind that 75-basis-point rate hike that we got in the final hour. It'll be interesting to see how officials were discussing the change from the 50-basis-point point hike that investors were anticipating for so long to the 75-basis-point rate hike. And of course, there were some discussions of a full point hike. So it'll be interesting to see whether any of the Fed policymakers were possibly discussing that.

And that'll also set the tone for what we might see in July. And notably, we've also been getting increasing talks of the possibility of a recession from Fed officials specifically, who have been downplaying it up until now. So it'll be interesting to see if the Fed minutes reflects any of those conversations. I do want to point out something interesting. The Atlanta Federal Reserve GDP Now Tracker now sees a contraction of 2.1% in the second quarter.

Now, June 27th, it saw an increase of 0.3% so the picture is really changing every day before we get that next print on July 28th for GDP.

- Those meeting minutes certainly allow us to be at least a little bit of a fly on the wall in those discussions that take place. Alexandra, thanks so much for breaking this down for us and what to watch this week.