Stock and bond markets are closed in observance of Independence
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
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
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
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.
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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