The Week Ahead In A Post Brexit World

The Dow Jones Industrial Average fell for the week. The S&P 100 was also lower for the week along with the NASDAQ 100 and the Russell.

1.Geopolitical and Fiscal Events.

Monday sees ECB Head Mario Draghi speak along with Federal Reserve Chairman Janet Yellen at a European Forum. Tuesday sees the European Union leaders met. On Wednesday Federal Reserve Chairman Yellen speaks. On Thursday Federal Reserve St. Louis President James Bullard speaks at 2:00 p.m. EDT. On Friday Federal Reserve Cleveland President Loretta Mester will speak.

2.Economic Releases.

Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and Q1 GDP (revised), personal income, Chicago PMI, ISM Index and construction spending.

3.Earnings Releases.

Notable releases include NKE CCL IHS FDS MON GIS AYI MRVL STZ CAG PAYX MU.

Monday, June 27

European Central Bank Head Mario Draghi speaks at a European forum on central banking with Federal Reserve Chairman Janet Yellen at 10:30 a.m. EDT.

Tuesday, June 28

The third estimate for Q1 GDP is due out at 8:30 a.m. EDT and is expected to rise to 1.0% from 0.8%.

At 10:00 a.m. EDT, June Consumer Confidence is due out and expected to rise to 93.1 from 92.6.

European Union (EU) leaders hold a Summit to discuss Europe in a post Brexit world.

Wednesday, June 29

May Personal Income is due out at 8:30 a.m. EDT and is expected to fall to 0.3% from 0.4%.

Then at 10:00 a.m. EDT, May Pending Home Sales are due out and expected to fall to -1.4% from5.1% in April.

Federal Reserve Chairman Janet Yellen speaks at 9:30 a.m. EDT.

President Obama meets with his counterparts from Mexico and Canada.

After the close, Federal Reserve Bank Stress Test Results are due out.

Thursday, June 30

June Chicago PMI is due out at 9:45 a.m. EDT and is expected to rise to 50.8 from 49.3.

Chinese Manufacturing PMI is due out at 9:00 p.m. EDT.

Friday, July 1

June ISM Index is due out at 10:00 a.m. EDT and is expected to rise to 51.4 from 51.3.

May Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 0.5% from -1.8%.

Eurozone Manufacturing PMI is due out at 3:30 a.m. EDT.

Puerto Rico bond payments of $2 billion are due and a default could be on the horizon.

Markets are closed in Canada and Hong Kong.

The U.S. bond market closes early ahead of the Fourth of July weekend.

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