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.
Chief Investment Officer
|07/06/21||Markit US Services PMI||64.8||—||64.8||—|
|07/06/21||Markit US Composite PMI||—||—||63.9||—|
|07/06/21||ISM Services Index||63.5||—||64||—|
|07/07/21||MBA Mortgage Applications||—||—||-6.90%||—|
|07/07/21||JOLTS Job Openings||9325k||—||9286k||—|
|07/07/21||FOMC Meeting Minutes||—||—||—||—|
|07/08/21||Initial Jobless Claims||350k||—||364k||—|
|07/08/21||Langer Consumer Comfort||—||—||55.1||—|
|07/09/21||Bloomberg July United States Economic Survey|
|07/09/21||Wholesale Trade Sales MoM||—||—||0.80%||—|
|07/09/21||Wholesale Inventories MoM||1.10%||—||1.10%||—|
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