Big Week Ahead

Welcome to June, where bulls are flexing their muscles after a bullish May, and prepping to dive straight into a jam-packed week of data, Fed speak, and earnings.

The May jobs report drops Friday, but investors won’t be twiddling their thumbs until then—job openings, private-sector payrolls, and trade deficit data are all on tap. Plus, we’ll get fresh reads on consumer credit, factory orders, PMI, and construction spending to round out the economic buffet.

Fed Chair Jerome Powell kicks off the week with remarks today, joined by a speaking circuit that includes Philly’s Patrick Harker, Dallas’s Lorie Logan, and Chicago’s Austan Goolsbee.

On the earnings front, it’s tech and discount retail in the spotlight. Watch for updates from Broadcom, CrowdStrike, HPE, Dollar Tree, Dollar General, and Five Below.

And in case you missed it: President Trump stirred the geopolitical pot again on Friday with new jabs at China, adding another wildcard to an already stacked week.

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📉 JPMorgan’s Dimon says the bond market is going to have a ‘tough time’ one day: Jamie Dimon served up a financial fortune cookie that basically reads “brace yourself.” He didn’t say when or how, but warned the bond market is going to suffer one day—classic vague Wall Street energy. Until then, the guessing game continues. Read more

🏭 Korea factory activity shrinks again in May as demand falters: South Korea’s factories are having a rough year, with May marking the fourth month in a row of contraction. A sluggish global economy and weak demand are putting the brakes on production. Somebody get these factories a motivational playlist. Read more

🏦 Fed’s Waller says he's still open to cutting rates, but wants more inflation progress: Fed Governor Chris Waller is flirting with rate cuts like it’s a maybe on Hinge. He says we need “several more months” of good inflation data before any move, so don’t get too excited yet. It’s the financial version of “we’ll see.” Read more

🚫 China is ‘not a reliable partner,’ Scott Bessent says: Investor Scott Bessent took a flamethrower to U.S.-China relations, calling Beijing an economic liability. He warned that overreliance on China could backfire hard, especially in a world that’s increasingly on edge. It’s not a breakup, but it’s definitely a “we need space.” Read more

💵 The U.S. has never defaulted on its debt. But that’s not stopping the doomsday predictions: Despite never missing a payment, the U.S. debt situation is giving anxiety to economists and conspiracy theorists alike. Sky-high deficits and political chaos are feeding fears of a historic default. For now, it’s all vibes and no actual apocalypse. Read more

Monday

• S&P final U.S. manufacturing PMI (May)

• ISM manufacturing PMI (May)

• Construction spending (April)

• Federal Reserve Chair Powell, Dallas Fed President Logan, and Chicago Fed President Goolsbee are scheduled to speak

• Campbell’s and Science Applications International are scheduled to report earnings

Tuesday

• Factory orders (April)

• Job openings (April)

• Dallas Fed President Logan and Chicago Fed President Goolsbee are scheduled to speak

• CrowdStrike Holdings, Ferguson Enterprises, Hewlett Packard Enterprise, Dollar General, Guidewire Software, and NIO are scheduled to report earnings

Wednesday

• ADP employment (May)

• S&P final U.S. services PMI (May)

• ISM services PMI (May)

• Federal Reserve Beige Book

• Atlanta Fed President Raphael Bostic is scheduled to speak

• Dollar Tree, Descartes Systems Group, Five Below, PVH Corp, and Thor Industries are scheduled to report earnings

Thursday

• Initial jobless claims (Week ending May 31)

• U.S. trade deficit (April)

• U.S. productivity - first revision (Q1)

• Philadelphia Fed President Harker is scheduled to speak

• Broadcom, Lululemon Athletica Samsara, and Rubrik are scheduled to report earnings 

Friday

• U.S. employment report (May)

• Consumer credit (April)

Here’s how the S&P 500 typically acts on a weekly basis.

🛬 Newark Airport to open long-shuttered runway amid summer travel rush: Newark is dusting off a long-closed runway it shelved over a decade ago to tackle the summer travel chaos. The move should help reduce delays and maybe—just maybe—make flying slightly less rage-inducing. TSA lines will still test your will to live though. Read more

💄 e.l.f. Beauty remains committed to manufacturing in China despite tariffs: e.l.f. Beauty says “thanks, but we’ll stay” to the whole tariff drama, choosing to keep production in China for speed and cost efficiency. The brand’s fast-to-market game is still going strong, even if that means a few extra fees. Eyeshadow waits for no geopolitical agenda. Read more

🏛️ Why Scott Bessent wants to make it easier for banks to own Treasurys: Scott Bessent wants regulators to roll out the red carpet for banks holding U.S. Treasurys. He says easing capital requirements would boost demand and help the Treasury sleep better at night. Translation: let the banks hoard bonds like they’re limited-edition sneakers. Read more

🏘️ The tide is turning in the housing market, top economist says: One top economist sees a shift as higher mortgage rates start to cool the red-hot housing market. With more listings and slower price hikes, buyers might finally get a seat at the table. It’s not a full-blown crash—just a gentle deflating of the real estate ego. Read more

🚀 White House planning to replace NASA chief Nelson next year, sources say: NASA boss Bill Nelson could be orbiting out of the agency next year as the White House looks to swap leadership. The move comes amid project delays and cost overruns that even rocket science can’t explain away. Cue the “now hiring astronauts” LinkedIn posts. Read more

After the S&P 500 closed within it implied range on Wednesday, Thursday, and Friday of last week’s holiday-shortened trading, the market is looking for the benchmark index to trade between a slightly higher high and a slightly higher low to start this week.

Click here 👈to learn more about our charts.

Click here 👈to learn more about our charts.