Investors are likely to see some more early warnings shots next week on Q2 earnings reports and back-half guidance revisions to follow on the recent updates from General Motors (GM), Kohl’s (KSS), and Micron (MU) that rattled their respective sectors.
Watch the airline sector in particular, with monthly traffic reports likely to include some new forecasts from major players like Southwest Airlines (LUV), American Airlines Group (NASDAQ:AAL), and Delta Air Lines (DAL). The economic calendar includes the factory orders report on July 5, the JOLTS job openings release on July 6, and the employment report on July 8.
The U.S. economy is anticipated to have added 250K jobs in June, which is a pace of job additions that is close to the pre-pandemic level. FOMC minutes will also be released next week and there will be a smattering of Fed speakers as the guessing on the central bank’s tightrope walk with inflation and interest rates continues.
