Another week in the books. Let’s take a look ahead and see if we can’t game plan a bit. It’s going to be a very odd week as earnings are very light, volume should be non-existent and data is relatively heavy. We get important housing data Tuesday, ISM on Wednesday and then a jam packed Thursday with the jobs data. The market is closed Friday for the 4th of July holiday.
- Tuesday: June Conference Board consumer confidence survey, S&P/Case-Schiller housing index, Chicago PMI
- Wednesday: ISM manufacturing survey, ADP employment survey, May pending home sales, May construction spending, June auto sales, weekly crude inventories
- Thursday: June unemployment and non-farm payrolls, weekly initial jobless claims, May factory orders
Holiday weeks such as this one are typically bullish as the sellers do the bulk of their selling prior to vacation, however, there are some important economic reports which could really move the market on light volume. I won’t be making any significant portfolio changes in preparation for the week.