U.S. Stock Markets to Open Tuesday After Memorial Day Holiday | #stockmarket #markets #investing
U.S. stock markets will open Tuesday after the Memorial Day holiday. Investors will be looking for clues about the direction of the economy from a flurry of key economic data, including the Labor Department's closely-watched jobs report.
The jobs report is expected to show that hiring slowed in May, but economists are still forecasting solid job growth. A slowdown in hiring would be a sign that the economy is cooling, but it would also be a relief to investors who are worried about inflation and rising interest rates.
In addition to the jobs report, investors will also be watching the ADP National Employment Report, which is a precursor to the Labor Department's report. The ADP report is expected to show that private payrolls added 200,000 jobs in May.
Other economic data that investors will be watching includes the Institute for Supply Management's manufacturing index and the Commerce Department's retail sales report. The ISM manufacturing index is expected to show that manufacturing activity expanded in May, while retail sales are expected to show that consumer spending rose in April.
Investors will also be watching corporate earnings reports for clues about the state of the economy. A number of big name companies are scheduled to report earnings this week, including Apple, Amazon, and Microsoft.
Overall, the market is expected to open higher on Tuesday, but the direction of the market will depend on the economic data. If the economic data is strong, the market could rally. However, if the economic data is weak, the market could sell off.
