U.S. stocks are set for a muted open Monday ahead of a week of domestic labor market updates and the Federal Open Market Committee’s minutes of its June monetary policy discussion.
As of 6:30 p.m. EST Sunday, Dow Jones Industrial Average futures were flat, as were S&P 500 futures, and Nasdaq Composite futures were up 0 .1%.
Crude oil futures (West Texas Intermediate, the US standard) fell 0.3% to $70.44 a barrel. Brent, the international standard, fell 0.3% to $75.17 a barrel.
Notable gains this week include Levi Strauss & Co. on Thursday.
Notable economic events this week include: On Monday, the Nasdaq and New York Stock Exchange will have shorter regular trading hours, closing at 1 p.m. Eastern Time ahead of Independence Day. Also on Monday, the Census Bureau reports construction spending data for May, and the Institute for Supply Management releases its Manufacturing Purchasing Managers Index for June.
On Tuesday, stock and fixed income markets are closed for Independence Day, and the Reserve Bank of Australia will announce its monetary policy decision. On Wednesday, the Federal Open Market Committee will release the minutes of its June 13-14 monetary policy meeting, where policymakers decided to hold interest rates steady after 10 consecutive hikes.
On Thursday, the Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey on Job Openings for May; the Institute for Supply Management publishes its Services Purchasing Managers Index for the month of June; and ADP will release its national employment report on private sector jobs for June.
On Friday, the BLS will release the jobs report for June, including nonfarm payrolls, average hourly earnings and the unemployment rate.
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