After spending the short week waiting for jobs numbers, it’s back to business in this first full week of June as market watchers will focus on developments from Europe and the Federal Reserve. On Monday, German Chancellor Angela Merkel will meet with European Commission President Jose Manuel Barroso in Berlin prior to the late June meeting in Brussels with European leaders.
Greece’s problems will also be at the forefront as investors will keep their ears open on whether the country will remain in the euro zone. According to MarketWatch, recent polls have shown that Greek voters want a favorable revision for its financial bailout package terms and to remain in the euro zone. On June 17, the country will vote in a another parliamentary election after May’s vote did not create a coalition government.
Back in the U.S., the week will be a lighter one with economic numbers. On Thursday, Federal Reserve Chairman Ben Bernanke will testify before Congress at the Joint Economic Committee on economic outlook and monetary policy. Will he give any hints about QE3?
Take a look at the week ahead.
Monday: April factory orders.
Tuesday: May ISM services PMI.
Wednesday: First-quarter productivity (revised) and first-quarter unit labor costs (revised).
Thursday: Weekly jobless claims and April Consumer credit.
Friday: April Trade Deficit and April wholesale inventories.
Wednesday: Beige Book, Fed Governor Daniel Tarullo testifies at the Senate Banking Committee on the Dodd-Frank Act and Fed Vice Chair Janet Yellen gives an economic outlook and monetary policy speech.
Thursday: Fed Chairman Bernanke testifies before the Congressional Joint Economic Committee.
Monday: Dollar General (NYSE:DG).