Monday 7/5

Stock and bond markets are closed in observance of Independence Day.

Tuesday 7/6

The Institute for Supply Management releases its Services Purchasing Managers' Index for June. Consensus estimate is for a 63 reading, slightly lower than the May data, which was a record. The Services PMI has also had 12 consecutive monthly readings higher than the expansionary level of 50.

The Reserve Bank of Australia announces its monetary-policy decision. The central bank is expected to keep its cash target rate unchanged at 0.1%, as parts of the country have entered lockdown again to fight the Delta variant of the virus that causes Covid-19.

Wednesday 7/7

The Federal Open Market Committee releases minutes from its mid-June monetary-policy meeting. Fed officials signaled that interest rates would rise sooner and faster than Wall Street had expected prior to the meeting, as inflation is rising at its fastest pace since 2008. Seven officials now expect rates to be lifted next year, compared with four in March.

The Mortgage Bankers Association reports mortgage applications for the week ending on July 2. Mortgage applications declined 6.9% this past week and have fallen in four of the past six weekly surveys, as supply constraints have pushed home-price growth to record levels.

Thursday 7/8

Levi Strauss reports fiscal second-quarter earnings.

Costco Wholesale reports sales data for June.

Stellantis, the automobile manufacturer formed earlier this year via the merger of Fiat Chrysler Automobiles and Peugeot, hosts EV Day 2021. The company's chief executive officer, Carlos Tavares, will discuss Stellantis' electrification strategy going forward.

The Federal Reserve reports consumer credit data for May. Total outstanding consumer credit was a record $4.24 trillion in April, as the continued reopening of the economy and hot housing market spurred shoppers to take on more debt.

The Department of Labor reports initial jobless claims for the week ending on July 3. Claims averaged 392,750 a week in June, the lowest since February of last year.

Friday 7/9

Italy hosts a G20 summit of finance ministers and central bank governors. The confab runs from July 9 to July 10 in Venice. U.S. Treasury Secretary Janet Yellen will attend, as the Biden administration pushes for a global minimum corporate tax rate of at least 15%. This past week, 130 countries, representing more than 90% of global GDP, backed the minimum tax rate after two days of negotiations in Paris.

 

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(END) Dow Jones Newswires

July 02, 2021 21:45 ET (01:45 GMT)

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