The Week Ahead: Jobs Data, Fed Speakers and AI Earnings Take Center Stage

Market Overview

The S&P 500 closed at 7,580.06, up +1.43% on the week. The index extended its advance and finished near the recent high of 7,599.38.

The Nasdaq Composite closed at 26,972.62, gaining +2.39% for the week. Technology leadership remained firm, supported by continued AI investment trends and strong business spending.

The Dow Jones Industrial Average closed at 51,032.47, rising +0.90%. The index remained near record territory after rebounding from its March low.

Markets ended the week encouraged by reports of an extended U.S.–Iran ceasefire and the potential reopening of the Strait of Hormuz. Falling oil prices supported equities and bonds. Investors also focused on resilient economic growth, strong business investment, healthy corporate profits, and continued AI-related capital spending.

Inflation remains elevated. GDP data showed persistent price pressures, while markets continue to monitor labor market conditions and Fed commentary ahead of the June FOMC blackout period.

Economic Releases & Notable Earnings

Monday, Jun 1
Before the Open:
• Science Applications (SAIC), est. $2.28
Economic Releases:
• 13:45 GMT – Final Manufacturing PMI, forecast 55.3 (prior 55.3)
• 14:00 GMT – ISM Manufacturing PMI, forecast 53.3 (prior 52.7)
• 14:00 GMT – ISM Manufacturing Prices, forecast 85.3 (prior 84.6)
• 14:00 GMT – Construction Spending m/m, forecast 0.3% (prior 0.6%)
After the Close:
• Credo Technology Group (CRDO), est. $1.02
• Hewlett Packard Enterprise (HPE), est. $0.53

Tuesday, Jun 2
Before the Open:
• Hello Group (MOMO), est. $1.56
• ODDITY Tech (ODD), est. -$0.03
• Signet Jewelers (SIG), est. $1.38
• Victoria’s Secret (VSCO), est. $0.32
• Yesway (YSWY), est. $0.48
Economic Releases:
• 14:00 GMT – JOLTS Job Openings, forecast 6.87M (prior 6.87M)
After the Close:
• GitLab (GTLB), est. $0.21
• Palo Alto Networks (PANW), est. $0.79
• Ulta Beauty (ULTA), est. $6.88

Wednesday, Jun 3
Before the Open:
• Macy’s (M), est. $0.03
• Medtronic (MDT), est. $1.54
• MiniMed (MMED), est. -$0.12
• Ollie’s Bargain Outlet (OLLI), est. $0.87
• Sprinklr (CXM), est. $0.10
Economic Releases:
• 12:15 GMT – ADP Non-Farm Employment Change, forecast 116K (prior 109K)
• 13:45 GMT – Final Services PMI, forecast 50.9 (prior 50.9)
• 14:00 GMT – ISM Services PMI, forecast 53.8 (prior 53.6)
• 14:00 GMT – Factory Orders m/m (prior 1.5%)
• 14:30 GMT – Crude Oil Inventories (prior -3.3M)
• 18:00 GMT – Beige Book
After the Close:
• Broadcom (AVGO), est. $2.39
• CrowdStrike (CRWD), est. $1.07
• Descartes (DSGX), est. $0.52
• Five Below (FIVE), est. $1.76
• Netskope (NTSK), est. -$0.07
• Petco Health and Wellness (WOOF), est. $0.01
• PVH (PVH), est. $1.82
• Veeva Systems (VEEV), est. $2.14

Thursday, Jun 4
Before the Open:
• Brown-Forman (BF.B), est. $0.32
• Caleres (CAL), est. $0.34
• Ciena (CIEN), est. $1.46
• Columbus McKinnon (CMCO), est. $0.46
• Toro (TTC), est. $1.51
Economic Releases:
• 09:30 GMT – Challenger Job Cuts y/y (prior -20.9%)
• 12:30 GMT – Unemployment Claims, forecast 211K (prior 215K)
• 12:30 GMT – Revised Nonfarm Productivity q/q, forecast 0.7% (prior 0.8%)
• 12:30 GMT – Revised Unit Labor Costs q/q, forecast 2.4% (prior 2.3%)
• 14:30 GMT – Natural Gas Storage (prior 92B)
After the Close:
• Argan (AGX), est. $2.31
• Cooper (COO), est. $1.10
• DocuSign (DOCU), est. $0.99
• Guidewire Software (GWRE), est. $0.74
• lululemon athletica (LULU), est. $1.68
• PayPay (PAYP), est. $0.14
• Planet Labs (PL), est. -$0.04
• Rubrik (RBRK), est. -$0.03
• Samsara (IOT), est. $0.13
• ServiceTitan (TTAN), est. $0.28
• Wealthfront (WLTH), est. $0.12
• Zumiez (ZUMZ), est. -$0.81

Friday, Jun 5
Before the Open:
• ABM Industries (ABM), est. $0.88
Economic Releases:
• 12:30 GMT – Average Hourly Earnings m/m, forecast 0.3% (prior 0.2%)
• 12:30 GMT – Non-Farm Employment Change, forecast 95K (prior 115K)
• 12:30 GMT – Unemployment Rate, forecast 4.3% (prior 4.3%)
• 19:00 GMT – Consumer Credit m/m, forecast 18.1B (prior 24.9B)
After the Close:
• No reports scheduled.

Central Bank Activity

Monday
• 12:30 GMT – FOMC Member Waller
• 00:30 GMT (Tue) – FOMC Member Powell

Tuesday
• 05:50 GMT – FOMC Member Kashkari
• 12:30 GMT – FOMC Member Hammack

Wednesday
• 13:00 GMT – FOMC Member Barr
• Treasury Secretary Bessent Speaks
• 19:00 GMT – FOMC Member Logan

Thursday
• FOMC Member Barkin Speaks
• 17:10 GMT – FOMC Member Daly

Friday
• No speakers scheduled.

Saturday
• 16:00 GMT – FOMC Member Barr

Fed commentary and labor market data will be closely monitored for signals on interest-rate policy as inflation remains elevated and markets assess the outlook under the new Fed leadership.

Technical Outlook

Weekly Dow Jones Industrial Average Index

Dow Jones: 51,032.47 (+0.90%), support at 50,094.18, 48,708.57, 46,986.11 (52-week SMA), resistance at 51,094.18.

Weekly Nasdaq Composite Index (IXIC)

Nasdaq: 26,972.62 (+2.39%), support at 25,701.44, 22,651.73 (52-week SMA), 20,690.25, resistance at 27,094.80.

Weekly S&P 500 Index (SPX)

S&P 500: 7,580.06 (+1.43%), support at 7,333.68, 6,709.00 (52-week SMA), 6,316.91, resistance at 7,599.38.

All major indices remain above rising 52-week SMAs, confirming an intact primary uptrend.

Outlook

Jobs data will be the primary catalyst this week, highlighted by Friday’s nonfarm payrolls report, unemployment rate, and wage growth data. Investors will also watch JOLTS openings, ADP employment, weekly claims, and the Beige Book for additional labor market and growth signals.

Earnings remain active across technology, consumer, and software sectors. Broadcom (AVGO), CrowdStrike (CRWD), Palo Alto Networks (PANW), GitLab (GTLB), DocuSign (DOCU), Rubrik (RBRK), and Samsara (IOT) will provide updates tied to AI infrastructure, cybersecurity, and enterprise software spending.

Consumer demand will be in focus through Dollar General (DG), Macy’s (M), Ulta Beauty (ULTA), lululemon athletica (LULU), Victoria’s Secret (VSCO), and Five Below (FIVE). These reports arrive as investors evaluate resilient spending trends, persistent inflation pressures, and the strength of corporate earnings.

More Information in our Economic Calendar.