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Markets: They rallied last week, giving June a nice positive result.
The S&P roller coaster last week: up, flat, up, up, and up.
Fed balance sheet: At the end of June… $8 trillion.
ISM: Their manufacturing number dropped from 61.2 down to 60.6. A number over 50 is considered an expansion.
Jobs: It was a nice beat. Last month the number came in at 559,000. Expectations were for about 700,000 jobs and the number came in at 850,000.
Jobless claims: The weekly number came in at 365,000.
Radio: Bill started his holiday a little early… so we didn’t have our weekly discussion. But we’ll be on this Friday at 6:38a, 7:38a, and 8:38a on 1100AM.
Unemployment: The number coming in was at 5.8%. Expectations were for the number to drop to 5.6%, but it actually rose a tick up to 5.9%.
Focus of the week: On Wednesday afternoon (2:00p) we’ll get the minutes from the Fed meeting that took place three weeks ago. The Fed’s FOMC began to change its language about inflation. We’ll be looking for clues to see when their actions will match their new language.
Short week: Due to celebrating the July 4th holiday a day later, the Markets were closed on Monday. Just four days to this week’s trading cycle.
Indicator focus: ISM services index (Tue); Fed meeting minutes (Wed); and jobless claims (Thu).