The US Is About To Experience One Of The Most Intense And Critical Moments For The Economy In A Long Time
There's going to be a mountain of economic data released next week, and although the first week of the month is always busy for data there are two things that are special about next week.
First, the week is condensed into four days. Friday is the July 4 holiday, so all of the data that would normally be released then will be pushed to Thursday instead.
And yes, you know what that means: Jobs Thursday!
Instead of getting Non-Farm Payrolls at 8:30 AM on Friday, we'll get it at 8:30 AM on Thursday, July 3, which interestingly is the exact same moment that Initial Jobless Claims will be released as well.
Of course, The Jobs Report is just a tiny slice of the data we're about to get next week.
Other numbers include: Chicago PMI (Monday), Construction Spending (Tuesday), Auto Sales (Tuesday), ISM Manufacturing (Tuesday), The ADP Jobs Report (Wednesday), Factory Orders (Wednesday), and ISM Services (Thursday).
Oh, and just to make Thursday even crazier, at the exact moment that we get Non-Farm Payrolls and Initial Claims, Mario Draghi will be starting his latest press conference.
But the business of the week is only half of what will make it fun.
What's really exciting is that we'll be getting top-shelf data that helps answer the crucial question: Is a serious recovery here? After the horrible first quarter, the economic data has been much stronger, and there are increasing signs of a true breakout, and even a lift up in inflation. But it's possible that the data is just a snapback from the weather, and that it will get weak again once things level off. But now we're talking about data from the middle of the summer, and theoretically these effects should have worn off.
So this is the moment of truth, arguably, for the economy. These above data points should come close to answering the question: Is it for real this time, or is the economy sliding again?
It's going to be fun, and of course we'll be covering all of this LIVE.