US celebrates July 4 ahead of jobs data

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Hi there and greetings for another week at work.

July has arrived, indicating it is the moment for the United States to commemorate freedom on the fourth day, causing the closure of Wall Street. Nonetheless, the nation's financial markets will resume operations towards the end of the week when non-farm payrolls information is released.

The upcoming announcement will play a vital role in the Federal Reserve's discussions as they determine the interest rates for July. It is anticipated that employment growth in the United States has decelerated in June, following two surprising months of increases. These unexpected rises have contributed to the argument for the Fed to persist in raising interest rates throughout this year.

There is a possibility that Microsoft's purchase of Activision Blizzard for a whopping $75 billion might be canceled this week if the Federal Trade Commission wins the case that was heard in a San Francisco court last week. The decision of the court is anticipated to be announced as early as Monday.

Nevertheless, in the event that the FTC is unsuccessful in its lawsuit, thereby casting uncertainty on a distinct legal proceeding in an administrative court, the sole governing body that would impede the completion of this agreement would be the Competition and Markets Authority of the United Kingdom.

In the meantime, the CMA will grab the attention of news outlets on Monday as it releases its one-year inquiry findings regarding whether supermarkets and other sellers are generating unjustifiable profits from the sale of fuel.

The National Health Service (NHS), the publicly financed healthcare system in the UK, commemorates its 75th anniversary this Wednesday. It would probably be more fitting to refrain from excessive cake consumption to honor this milestone and instead delve into the FT books essay which discusses the prospects of the institution's endurance.

Feel free to express your opinions regarding the upcoming week. Reach out via email to [email protected] or simply hit the reply button if you're reading this directly from your inbox.

On Tuesday, those who closely follow the actions of the Federal Reserve will have the opportunity to analyze the minutes from the most recent meeting where interest rates were set. Additionally, the purchasing managers' index data, which will be released during the week, is another crucial aspect to pay attention to. It will offer valuable insights into the overall performance of major economies, including the G7 countries. The manufacturing figures will be available on Monday, followed by the services data on Wednesday.

Once again, this week's earnings reports are centered around the retail industry.

Sainsbury's, one of the leading four supermarkets, recently faced allegations of making excessive profits from rising food prices. To address this, the company will be providing investors with an update on its trading performance.

AO World, an internet-based seller of electrical goods, has recently established a significant alliance with Frasers Group led by Mike Ashley. The company is set to announce its financial performance for the entire year.

BioNTech is scheduled to appear in court on Monday to protect itself against a legal claim from a German individual, who is demanding compensation due to vision problems supposedly caused by the side effects of their Covid-19 vaccine. This lawsuit is just one of many compensation claims related to Covid-19 that have been filed in Germany. Another court hearing regarding a different case in Hamburg was abruptly postponed on June 12th.

Important Economic And Company Updates

Here is a more comprehensive compilation of what to anticipate in relation to corporate reports and economic information for the upcoming week.

Steve Murrells takes up the position of Hilton Foods Group's new chief executive, following the departure of Philip Heffer from the role.

Canada: financial markets shut down to commemorate Canada Day

China, EU, France, Germany, India, Italy, Japan, UK, and the US: S&P Global/Sips/Caixin manufacturing PMI.

UK: Findings from the Competition and Markets Authority investigation into the market for road fuel.

American: monthly construction expenditure figures ANSWER: American monthly construction expenditure data US: rise in housing starts signals positive growth ANSWER: increase in housing construction commences suggests favorable expansion US: decrease in highway construction projects ANSWER: decline in road construction initiatives US: stagnant commercial building activity ANSWER: unchanged commercial construction activity US: increase in public infrastructure investment ANSWER: rise in governmental infrastructure spending US: surge in residential remodeling projects ANSWER: significant growth in residential renovation endeavors US: decline in industrial construction activity ANSWER: drop in industrial building projects US: steady growth in non-residential building ANSWER: consistent expansion in non-residential construction US: decline in overall construction spending ANSWER: decrease in total construction expenditures US: rise in government-funded construction projects ANSWER: increase in publicly funded construction initiatives

Australia: Objective of the Australian Reserve Bank's target for the cash rate

US markets shut down in observance of Independence Day festivities.

Findings: Cairn Homes first half trading update, Sainsbury's first quarter trading statement.

Megan Greene has been appointed as a new member of the monetary policy committee at the Bank of England. She will be taking the place of Silvana Tenreyro.

The purchasing managers' index (PMI) for service sectors, provided by S&P Global/Sips, indicates the economic activity in various countries such as China, European Union, France, Germany, India, Italy, Japan, and the United Kingdom.

US: The Federal Open Market Committee releases the notes from its meeting in June. Additionally, data on factory orders for the month will be published.

Outcomes: AO World's financial year results, Foxconn's June sales figures, Redde Northgate's financial year results, Topps Tiles' Q3 trading statement.

Helen Miles takes over as the chief financial officer of Severn Trent after the water utility's yearly gathering, replacing James Bowling.

Germany: information about orders made to factories

The S&P Global/Sips construction purchasing managers' index (PMI) in the United Kingdom

United States: The PMI provided by S&P Global services.

Outcomes: Bang & Olufsen full year, Currys full year, Jet2 full year, Levi Strauss & Co first quarter, Naked Wines full year, Persimmon trading statement, Robert Walters second quarter trading update, Victrex third quarter trading statement, Workspace first quarter trading update and Annual General Meeting.

European Central Bank chief Christine Lagarde participates in a discussion titled "Where are the women?" at the 23rd edition of Les Rencontres Economiques d’Aix-en-Provence 2023 in Aix-en-Provence. Governor Andrew Bailey of the Bank of England gives a speech during the event on Sunday.

Luis de Guindos, the vice-president of the European Central Bank (ECB), delivers a significant speech during the workshop titled "The Political Economy of Inflation" held at King’s College London.

Liontrust Asset Management is organizing an Extraordinary General Meeting for its shareholders to cast their vote on the purchase of Swiss competitor GAM. The investors of GAM had previously given their support to the acquisition back in May.

Thyssenkrupp Nucera enters the stock market for the first time in Frankfurt.

Canada: June employment survey Canada's June labour force survey provides insights into the current state of the country's job market. This report delves into various aspects of employment, shedding light on the overall workforce participation, rates of employment and unemployment, as well as other relevant trends. The June survey seeks to gauge the employment and job-seeking activities within the Canadian population. By examining the workforce participation rate, which measures the proportion of working-age individuals actively engaged in employment or actively seeking employment, the survey gives an understanding of the level of economic activity and engagement within the labour market. Moreover, the survey analyzes the rates of employment and unemployment. The employment rate indicates the percentage of working-age individuals who are currently employed, whereas the unemployment rate reflects the proportion of the labour force actively looking for work but unable to secure employment. Additionally, the survey explores pertinent labour market trends. These may include changes in the composition of employment, such as shifts between full-time and part-time work, or alterations in the distribution among various industries. Overall, the June labour force survey is a valuable tool for assessing the current dynamics of the Canadian job market. It helps policymakers, businesses, and individuals understand the state of employment, job-seeking activities, and emerging trends, enabling them to make informed decisions and shape effective strategies accordingly.

Germany: index measuring industrial production

Title: Breaking Down Japan's Workforce Census Japan's labor force census offers valuable insights into the nation's economic landscape. Conducted periodically, this comprehensive survey is crucial for understanding trends and patterns within the labor market. Let's take a closer look at the intriguing findings it presents. Within this survey, Japan meticulously collects data on employment status, occupation, income levels, and overall labor market conditions. By examining these various elements, experts can analyze the intricate dynamics of Japan's workforce. One noteworthy highlight of the labor force survey is the detailed breakdown of employment by industry. This information enables researchers, policymakers, and business professionals to identify which sectors are in high demand and where potential growth opportunities lie. Moreover, it allows for a better understanding of the labor supply and demand balance within specific fields. Another crucial component analyzed in this survey pertains to working conditions, such as average working hours, remuneration, and job security. These insights are crucial for assessing the quality of jobs available to individuals in different industries and regions, ensuring the well-being of the workforce as a whole. Furthermore, the labor force survey sheds light on the demographics of Japan's labor market. It provides valuable information on gender representation and the participation rates of different age groups. This allows authorities to identify any potential disparities or barriers that may exist within the workforce, facilitating the implementation of targeted policies to address such issues. In conclusion, Japan's labor force survey proves to be a significant tool for understanding and evaluating the state of the nation's workforce. By delving deep into the survey results, stakeholders gain critical knowledge about employment trends, industry demands, working conditions, and demographic distributions. Armed with this information, they can make informed decisions and develop strategies that foster a healthy, inclusive, and prosperous labor market in Japan.

UK: Report on Halifax House Price Index. Additionally, analysis conducted by the Office for National Statistics of the productivity figures for the first quarter.

June jobless rate and non-agricultural employment statistics in the United States

Findings: MJ Gleeson's update on trading.

Finally, let's take a look at the other happenings and significant achievements that occurred throughout this week.

UK: The public accounting committee of the parliament is conducting a session to gather evidence regarding the availability of immediate and emergency healthcare services in the NHS. This committee has previously highlighted that the initial year of a three-year initiative to restore these services has already demonstrated deficiencies.

UK: The prestigious tennis event, Wimbledon, commences in the capital city of London.

UK: Prime minister Rishi Sunak responds to inquiries from parliament's liaison committee, responsible for assessing the government's efficiency. Opposition leader Sir Keir Starmer from the Labour Party, on the other hand, speaks at the annual conference of the Local Government Association in Bournemouth.

The UK's National Health Service (NHS) is celebrating its 75th year since its establishment.

United Kingdom: King Charles and Queen Camilla are set to undergo a second coronation during a ceremonial event in Scotland called the Service of Dedication and Thanksgiving. Meanwhile, educators belonging to the National Education Union in England are resuming their strike activities over salary matters, with an additional strike scheduled for Friday.

Switzerland: The International Telecommunication Union (ITU), a United Nations (UN) technology organization, is holding a two-day event called AI for Global Good in Geneva. The purpose of this summit is to promote the progress of artificial intelligence (AI) in order to expedite the accomplishment of the UN's sustainable development objectives.

Spain: Pamplona's San Fermin festival hosts the popular spectacle known as the Running of the Bulls.

UK: The primary governing body of the Church of England, known as the General Synod, commences a gathering spanning five days at York university. During this period, they will delve into various subjects, including the ongoing deliberations on same-sex marriage blessings and a comprehensive report on climate change presented by the church's national investing entities.

Japan: Commemorating the tragic demise of ex-Prime Minister Shinzo Abe

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