Key Takeaways
- Stock and bond markets will close early on Thursday and remain closed all day Friday for the Independence Day holiday.
- The U.S. jobs report, scheduled for release on Thursday, leads several labor market reports set for release this week.
- Investors will also be watching Congress for passage of Trump’s “One Big, Beautiful Bill.”
Investors will get a day off this week—but they won’t be able to tune out, with economic data and Washington, D.C., drama among the likely highlights of the coming days.
The June jobs report is the biggest of a string of labor market data points expected this week. Investors will also be watching Congress as it works to pass President Donald Trump’s “Big, Beautiful” budget bill before his July 4 deadline.
Beer producer Constellation Brands (STZ) is a highlight of a limited corporate earnings calendar. Tesla (TSLA) June deliveries data, expected Wednesday, could also influence markets.
Markets will take a break Friday to observe the Independence Day holiday. Last week, the S&P 500 and Nasdaq Composite finished at record highs, lifted by an upbeat Friday session for stocks.
Read to the bottom for our calendar of key events—and one more thing.
Jobs Report Comes as Fed Watches for Signs of Labor Market Weakening
Thursday’s scheduled release of June jobs numbers comes as the labor market has remained resilient despite concerns of a hiring slowdown.
Employers added more jobs than expected in May, though hiring slowed slightly from the prior month. Economists expect the labor market to slow as companies face uncertainty from tariffs, while a recent consumer survey showed heightened worries about the state of the job market.
Federal Reserve officials have pointed to strong job growth as a reason to hold interest rates at current levels, even as inflation has declined. Trump has put pressure on the Fed to cut rates, with some officials now open to the idea. Fresh data from the labor market could give investors more insight into whether rate cuts are coming.
Trump’s “One Big Beautiful Bill” will be in the spotlight as the Senate works to pass the budget package ahead of Trump’s deadline. Investors will also be eyeing updates on Trump’s tariff policy ahead of a July 9 deadline to negotiate new deals with U.S. trading partners. (Officials have said the tariff timeline could be delayed.) Trump on Friday said trade talks with Canada were over.
Constellation Brands, the maker of Modelo and Corona beers, is scheduled to report earnings Tuesday, a report due after it trimmed its outlook in the previous quarter. EV maker Tesla is expected to report June deliveries Wednesday, offering a full picture of the first half of the year for its car business.
Before closing on Friday for the Independence Day holiday, markets will also close early on Thursday.
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This Week’s Calendar
Monday, June 30
- Chicago Business Barometer (PMI) (June)
- Fed Speakers: Chicago Fed President Austan Goolsbee
- Key Earnings: Progress Software (PRGS)
Tuesday, July 1
- ISM manufacturing (June)
- More Data to Watch: S&P final U.S. manufacturing PMI (June), Construction spending (May), Job openings (May)
- Key Earnings: Constellation Brands, MSC Industrial Direct (MSM), Greenbrier (GBX)
Wednesday, July 2
- ADP employment (June)
- Tesla June deliveries data expected
- Key Earnings: Unifirst (UNF), Franklin Covey (FC)
Thursday, July 3
- U.S. employment report (June)
- More Data to Watch: Initial jobless claims (Week ending June 28), U.S. trade deficit (May), S&P final U.S. services PMI (June), Factory orders (May), ISM services (June)
- Stock and bond markets close early
Friday, July 4
- Stock and bond markets closed
One More Thing
More Americans are deciding not to attend college. Investopedia’s Elizabeth Guevara explains the reasons why here.
