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Jobless Claims, Powell Testimony And Other Macro Issues For Thursday

  • Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Analysts expect jobless claims declining to 225,000 for the June 18 week from 229,000 in the previous week.
  • The current account report for the first quarter is scheduled for release at 8:30 a.m. ET. After a $217.9 billion gap in the fourth quarter, analysts expect a $277.0 billion deficit for the first quarter.
  • The flash Composite Purchasing Managers’ Index for June will be released at 9:45 a.m. ET. Analysts expect June’s manufacturing PMI declining to 56.3 from May’s 57.0, while services index might rise slightly to 53.6 from 53.4.
  • Fed chief Jerome Powell is scheduled to testify before the House Financial Services Committee at 10:00 a.m. ET.
  • The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
  • The EIA’s weekly report on petroleum inventories in the U.S. will be released at 11:00 a.m. ET.
  • The Kansas City Fed manufacturing index for June is scheduled for release at 11:00 a.m. ET.
  • The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.

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