(CercleFinance.com) – After a long weekend due to the national holiday, the major American equity indices (-2% on the Dow Jones, -1.8% on the S&P500, -0.9% on the Nasdaq) are sharp decline on Wall Street awaiting several major statistics this week.
Factory orders for the month of May have been released. After rising 0.7% in April (revised from the original estimate of 0.3%), orders rose 1.6% in May, according to the Commerce Department.
But it is above all in the days to come that the most important indicators are expected to gauge the state of the American economy.
Thus, investors will take note of the composite PMI and non-manufacturing ISM indices on Wednesday, then of the ADP survey on employment in the private sector on Thursday, and finally of the monthly report of the Department of Labor for the month of June.
“Our economists expect a slowdown in the creation of non-agricultural jobs (+225,000 forecast against +390,000 previously) but with unemployment down 0.1 point to 3.5%”, Deutsche Bank said on Monday morning. .
“There will always be a lot of demand for labor and tensions in the labor market will continue, leaving the Fed with a huge dilemma as growth slows”, continued the German establishment.
Meanwhile, on the values front, electric car maker Tesla said last Saturday it had produced more than 258,000 vehicles and claimed June 2022 as ‘the highest vehicle production month in its history’.
The European Commission has authorized the creation of a joint venture between the American group Goldman Sachs and the Japanese Sojitz Corporation in Japan. This joint venture will be active in the archipelago and will focus on property management and related services.
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