Economic releases covering construction spending, factory orders, and initial jobless claims will be sandwiched around the 4th of July holiday before the June jobs report lands on the laps of investors on July 7. Economists forecast 213K jobs were added during the month and for the unemployment rate to dip to 3.6% from 3.7%. Average hourly earnings are forecast to be 0.3% month-over-month and 4.2% year-over-year.Major banks will also be watched closely next week after the group passed the Federal Reserve's stress tests that simulated a severe recession. Analysts expect dividends to be increased by most large banks, but share repurchases are expected to be relatively subdued in the near term until the direction of the economy becomes more clear. Bank of New York Mellon (BK), JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), Truist Financial (TFC), Citigroup (C), and State Street (STT) are some of the banks in the spotlight for capital allocation developments. Seeking Alpha analyst Logan Kane thinks that while large banks are likely to weather the storm, dozens of smaller banks may fail over the next 12-18 months due to risky real estate loans and falling deposits. A light week of calendar events means that Apple's (AAPL) dalliance with a $3T market cap and Tesla's (TSLA) Q2 deliveries report could attract outsized attention.
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| | Welcome to the Sunday edition of Wall Street Breakfast, which previews events for investors to watch during the upcoming week. If you want to receive this a day earlier, follow Stocks to Watch and select the option to receive email notifications. Top News  Economic releases covering construction spending, factory orders, and initial jobless claims will be sandwiched around the 4th of July holiday before the June jobs report lands on the laps of investors on July 7. Economists forecast 213K jobs were added during the month and for the unemployment rate to dip to 3.6% from 3.7%. Average hourly earnings are forecast to be 0.3% month-over-month and 4.2% year-over-year.
Major banks will also be watched closely next week after the group passed the Federal Reserve's stress tests that simulated a severe recession. Analysts expect dividends to be increased by most large banks, but share repurchases are expected to be relatively subdued in the near term until the direction of the economy becomes more clear. Bank of New York Mellon (BK), JPMorgan Chase (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), Truist Financial (TFC), Citigroup (C), and State Street (STT) are some of the banks in the spotlight for capital allocation developments. Seeking Alpha analyst Logan Kane thinks that while large banks are likely to weather the storm, dozens of smaller banks may fail over the next 12-18 months due to risky real estate loans and falling deposits. A light week of calendar events means that Apple's (AAPL) dalliance with a $3T market cap and Tesla's (TSLA) Q2 deliveries report could attract outsized attention. | | Featured  Research shows that individual investors collectively underperform the stock market, because their decisions are often driven by emotions. We believe that as an investor you can do really well if you find opportunities based on 360-degree analysis - not hype. Seeking Alpha Premium's unparalleled stock coverage gives you the insights you need to stay ahead of the curve. With timely insights on stocks, ETFs, and more, you can track the investments that matter most to you. Plus, you can discover hidden gems and compelling new ideas with our exclusive stock ratings. Go Premium and experience its incredible value for yourself. Go Premium now | | Earnings Earnings spotlight: Thursday, July 6 - Levi Strauss (NYSE:LEVI), Kura Sushi (NASDAQ:KRUS), and Simulations Plus (SLP).
Earnings spotlight: Friday, July 7 - AZZ (AZZ) and Urban One (UONE). | | Stocks Volatility watch: Short interest on ImmunityBio (NASDAQ: IBRX) is at 19.15% and Kura Sushi ( KRUS) is at 22.67% of total float. Options trading volume is elevated on Vroom ( VRM) and FibroGen ( FGEN) once again. Virgin Galactic ( SPCE) continues to see huge price swings as longs and shorts battle it out. Quant ratings: Stocks with recent quant rating changes include Roivant Sciences (ROIV) to Strong Buy from Hold, Olin Corporation (OLN) to Buy from Hold, and Beyond Air (XAIR) to Strong Sell from Hold. See the stocks with the very highest rated Seeking Alpha Quant Ratings. | | | | | Events Corporate events: The holiday-shortened week has a nearly empty agenda of corporate events or conferences in the U.S. Across the Atlantic Ocean, Coty (NYSE:COTY) will hold a Paris Investor Conference on July 6. The company said the event will provide a comprehensive overview of Coty, its strategic pillars, and value proposition to the European investment community. Recent reports suggested Coty (COTY) is considering exploring a dual listing on the Paris Stock Exchange. In the healthcare sector, the highly-anticipated FDA action decision on the full approval of Eisai and Biogen's Alzheimer's disease drug Leqembi will be watched. An advisory panel of the FDA voted unanimously in June to recommend full approval of Leqembi. See a detailed list of key events for next week in Seeking Alpha's Catalyst Watch. | | Seeking Alpha's Wall Street Breakfast Podcast Seeking Alpha's Wall Street Breakfast podcast brings you all the news you need to know for your market day. Released by 8:00 AM ET each morning, it is a quick listen that you can put on as you get ready to start your working day. | | | | |
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