by Calculated Risk on 6/28/2025 08:11:00 AM

The key report scheduled for this week is the June employment report to be released on Thursday.

Other key reports include the June ISM Manufacturing survey, June Vehicle Sales and the Trade Deficit for May.

----- Monday, June 30th -----
9:45 AM: Chicago Purchasing Managers Index for June.

10:30 AM: Dallas Fed Survey of Manufacturing Activity for June.

----- Tuesday, July 1st -----
9:30 AM: Discussion, Fed Chair Jerome Powell, Policy Panel Discussion, At the European Central Bank Forum on Central Banking 2025, Sintra, Portugal

10:00 AM: ISM Manufacturing Index for June. The consensus is for the ISM to be at 48.8, up from 48.5 in May. 

10:00 AM: Construction Spending for May. The consensus is for a 0.1% decrease in construction spending.

10:00 AM ET: Job Openings and Labor Turnover Survey for May from the BLS.

This graph shows job openings (black line), hires (dark blue), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.

Jobs openings increased in April to 7.39 million from 7.20 million in March.

The number of job openings were down 3% year-over-year and quits were down 6% year-over-year.

Late in the day: Light vehicle sales for June.

The consensus is for light vehicle sales to be 15.5 million SAAR in June, down from 15.6 million in May (Seasonally Adjusted Annual Rate).

This graph shows light vehicle sales since the BEA started keeping data in 1967. The dashed line is the sales rate for last month.

J.D. Power is forecasting sales of 15.0 million SAAR in June.

----- Wednesday, July 2nd -----
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

8:15 AM: The ADP Employment Report for June. This report is for private payrolls only (no government). The consensus is for 110,000 payroll jobs added in June, up from 37,000 in May.

----- Thursday, July 3rd -----
8:30 AM: Employment Report for June.   The consensus is for 129,000 jobs added, and for the unemployment rate to be unchanged at 4.2%.

There were 139,000 jobs added in May, and the unemployment rate was at 4.2%.

This graph shows the jobs added per month since January 2021.

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for initial claims to increase to 239 thousand from 236 thousand last week.

8:30 AM: Trade Balance report for May from the Census Bureau.

This graph shows the U.S. trade deficit, with and without petroleum, through the most recent report. The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

The consensus is the trade deficit to be $69.8 billion.  The U.S. trade deficit was at $61.6 billion the previous month.

10:00 AM: the ISM Services Index for June.   The consensus is for a reading of 50.8, up from 49.9.

All US markets will close early at 1:00 PM ET in observance of Independence Day

----- Friday, July 4th -----
All US markets will be closed in observance of Independence Day