July 6, 2021 Headlines

It’s a sleepy start to the week as market participants return from the long holiday weekend. Both Treasuries and equity futures are little changed to start the day, but oil prices are up to a 6-year high after OPEC+ failed to reach a supply agreement. West Texas Intermediate futures rose to $76.98 a barrel overnight, the highest since November 2014. There is also some focus still on the delta variant of the Covid virus and what restrictions, if any, may need to be imposed in parts of the country. This week’s economic calendar is relatively light, headlined by the release of the June 16 FOMC minutes tomorrow. Atlanta Fed President Raphael Bostic will also be discussing the economy in an appearance tomorrow afternoon.   

Jason Haley
Chief Investment Officer

07/06/21Markit US Services PMI64.864.8
07/06/21Markit US Composite PMI63.9
07/06/21ISM Services Index63.564
07/07/21MBA Mortgage Applications-6.90%
07/07/21JOLTS Job Openings9325k9286k
07/07/21FOMC Meeting Minutes
07/08/21Initial Jobless Claims350k364k
07/08/21Continuing Claims3350k3469k
07/08/21Langer Consumer Comfort55.1
07/08/21Consumer Credit$18.000b$18.612b
07/09/21Bloomberg July United States Economic Survey
07/09/21Wholesale Trade Sales MoM0.80%
07/09/21Wholesale Inventories MoM1.10%1.10%

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