Economic Calendar (29 May 2023) - Payroll, jobless, consumer confidence on the line this week

Public Holidays

The United States celebrates Memorial Day on 29 May 2023. I will like to give a shout-out to the veterans who have served the country.

Singapore celebrates Vesak Day on 02 Jun 2023

No other public holidays for China & Hong Kong this week

Economic Calendar (29 May 2023)

Economic Calendar starting 29 May 2023

Notable Highlights

  • Payroll & Jobless claims. There are a few important announcements like JOLTs Job Openings, ADP Nonfarm employment change, initial jobless claims, Average Hourly Earnings, Nonfarm Payrolls and Unemployment Rate. All these would form important data points for the Fed to decide on the next interest rate adjustment.

  • <From investing> Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.

  • PMI updates from both US & China- This reflects the global and US domestic manufacturing outlook and can be a good reference for the market outlook.

  • Crude Oil Inventories can be seen as forward indicators of market demand and consumption. If the trend of excess inventories continues, this implies demand erosion that can lead to reduced production & weakening consumer spending. The last crude oil saw a bigger drawdown than expected.

@TigerStars

$S&P 500(.SPX)$

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  • GriseldaBrown
    ·2023-05-29

    One of the reasons is that the interruption of US debt negotiations has hit investor confidence, and the recent US regional bank turmoil will have a negative impact on economic stability.

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  • BenedictMill
    ·2023-05-29

    Does USO reset everyday and suffer from decay over the long term...like a lot of other commodity/futures ETFs? The long term chart sure looks like it. Looks like a decent buy here but just wondering if it's a buy and hold or a trade.

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  • BorgPetty
    ·2023-05-29

    How much would the USA filling oil reserves affect oil prices?

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