The Week Ahead: Payrolls Report Punctuates Short Week

The nonfarm payrolls report will be the featured event in a holiday-shortened week

May 26, 2016 at 10:00 AM
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Even with markets closed on Monday for Memorial Day and most prominent earnings releases behind us, next week's schedule has much to offer. The economic calendar is packed early on, with several reports on the manufacturing sector set to hit. Later in the week, all eyes will be on the Labor Department's nonfarm payrolls report for May -- as the jobs data could carry rate-hike implications -- along with the Fed's Beige Book. Meanwhile, earnings from semiconductor stocks will be in focus on Thursday, with Ambarella Inc (NASDAQ:AMBA) and Broadcom Corporation (NASDAQ:AVGO) scheduled to report. 

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

Monday, May 30

U.S. markets will be closed in observance of Memorial Day.

Tuesday, May 31

The short week opens with a bang, as Tuesday's docket features personal income and spending data, the S&P/Case-Shiller home price index, the Chicago purchasing managers index (PMI), the Conference Board's consumer confidence survey, and the Dallas Fed manufacturing survey. Medtronic (MDT), TiVo (TIVO), and Workday (WDAY) will release earnings. 

Wednesday, June 1

On Wednesday, May auto sales, ADP's report on private-sector payrolls, Markit's manufacturing PMI, the Institute for Supply Management's (ISM) manufacturing index, construction spending, and the Fed's Beige Book will hit the Street. As for earnings, Box (BOX), Cracker Barrel (CBRL), G-III Apparel (GIII), and Michael Kors (KORS) will report. 

Thursday, June 2

Weekly jobless claims come out on Thursday, as does the holiday-delayed report on crude inventories. Plus, Federal Reserve Governor Jerome Powell will speak. The earnings slate is highlighted by AMBA, AVGO, Ciena (CIEN), Joy Global (JOY), and Zumiez (ZUMZ). 

Friday, June 3

The closely watched nonfarm payrolls report comes out on Friday, followed by international trade data, factory orders, and the ISM non-manufacturing index. Chicago Fed President Charles Evans will also speak. There are no notable earnings releases on Friday. 

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