Daily Trader: Inflation & Jobs Data Dominate Trading Week #shorts

Good morning everyone and welcome to the daily trader. We have a big week. Big week in terms of data earnings. We're wrapping up second quarter earning season and we'll we'll have a couple names. We'll have Tuesday we'll have Carnival Cruise Lines. Wednesday big one big one of the week Micron. And then Thursday we'll get Nike to wrap up earning season. And now that that takes us about two weeks out and then we'll get to third quarter earning season. Now, this week will be driven by a lot of things. Data will be a big part of this week. Uh, not much data today, just some Dallas Fed stuff. Uh, Tuesday, we'll get Jolts. Tuesday, we'll also get consumer confidence. Tuesday, we'll get home price index from two different sources. Wednesday, mortgage apps as we do every week, ADP, third look at second quarter GDP, and then the big one maybe of the week even, personal income and outlays where we'll get PCE data. I'll get to that in a moment, why it's important. Thursday, jobless claims, some PMI and ISM manufacturing data, construction spending. Friday, non-farm payrolls, non-farm payrolls, unemployment, wages data, the number one data point of the month coming out on Friday of this week. Now, within those two, the two most important are income and outlays and non-farm payrolls. Income and outlays, why we we'll get PCE data out of that. Here's what we're looking at, and here's why it's important. Headline, month over month, PCE up 4. That's a bit elevated. Year-over-year headline 3.7% unchanged from last month. Now core PCE looking for up.3 and 3.2%. That core PCE number would be down a tenth from last month. Does that sound like an environment where we have to raise rates? I don't know. That's the question that'll come up. Now >> when we get non-farm payroll data on Friday looking for something around 90,000 jobs uh created 4.1% unemployment rate a.3 on month overmonth wages and something close to 3.1 3.2% in terms of yearover-year wage growth. So those are the two big data points of the week. Those are the consensus estimates for those data points. But headlines will still drive us. Crude oil up this morning, yields up this morning. No new headlines between the US and Iran. We're waiting for more of those. It could be any moment here that we're sitting there. We'll watch it all this week though on the Daily Trader. Have a great day, everybody.