Larry Kudlow: ‘Do not underestimate the V-shaped recovery’
‘Kudlow’ host breaks down the May jobs report and analyzes the labor market
Investors will begin the week with U.S. stocks just shy of record highs and the 10-year Treasury yield below 1.57%, a one-month low. Key inflation data due later in the week will be closely watched.
Wall Street will also have the first chance to react to U.S. Treasury Secretary Janet Yellen's meeting with G7 leaders and the progress made on a global minimum tax over the weekend, in part due to the Biden administration's efforts to sell the plan.
BIDEN'S MINIMUM GLOBAL TAX COULD BACKFIRE
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On Capitol Hill, Colonial Pipeline's CEO is set to appear and will likely defend his decision to pay cyber hackers over $4 million to free the largest U.S. pipeline from their grip.
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
On Monday Apple will take the spotlight as it opens its Worldwide Developers Conference, which will unveil a series of new updates coming to its platforms later this year. The keynote address will begin at 10 a.m. Pacific time, it's unclear if CEO Tim Cook will kick off the event which runs through June 11.
Elsewhere, some workers will return to the office. Facebook is reopening its San Francisco office to employees, while Blackstone Group is calling vaccinated employees back to the office and Rocket Companies is bringing back employees who told the company they are "more effective in the office."
These companies may set the tone for other corporations weighing work-from-home protocols.
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In earnings news, a light calendar with Stitch Fix and Vail Resorts among the names reporting.
In politics, Vice President Kamala Harris will take part in her first foreign trip to Guatemala and Mexico. Harris will also discuss COVID-19 vaccination aid with the leaders of both countries.
On Tuesday, investors will take in April's trade deficit as well as the Labor Department's job openings (JOLTS) which may continue to show millions of positions available to be filled.
In earnings, Chico’s FAS and J Jill, are slated to report before the opening bell, and Casey’s General Stores, after.
Owners of Amazon's Ring and Echo devices will also be automatically enrolled in Amazon Sidewalk, which is aimed at helping the devices work better and even locate lost items. According to the company, the Sidewalk feature creates a low-bandwidth network that shares a small portion of your internet bandwidth with your neighbors. Amazon notes the feature has multiple layers of privacy and security to protect personal information. However, users are given the ability to opt-out.
Wednesday is among the busiest day of the week as Meme stock GameStop holds its annual shareholder meeting and reports earnings.
Chewy.com founder Ryan Cohen is also expected to be named chairman of the board.