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  • Hi, this is Jeffrey Kleintop with 90 seconds on what we're watching this week that could

  • move the markets. On Monday, it's geopolitics on my radar. Last week, a U.K. warship was

  • fired on by Russian forces during an exercise in the Black Sea. This week, it's the U.S.

  • Navy beginning two weeks of exercises with Ukraine in the Black Sea. Any Russian action

  • against U.S. forces could move markets. On Tuesday, we get consumer confidence in Europe

  • after we saw German and French business confidence soar ahead of expectations last week. Household

  • savings in Europe has surged due to the lockdowns. And now a willingness and ability to spend

  • could mean a booming third quarter for GDP in Europe, with economists forecasting it

  • to come in at near an annualized 10%. On Wednesday, the OECD meets to discuss global minimum corporate

  • tax rate. Now, a tax war race to the bottom on taxes may not be on pause but nailing down

  • the details of a deal and the approval by parliaments may be slow and difficult. Nevertheless,

  • the discussions could affect the tech and healthcare sectors potentially most affected.

  • On Thursday, we get the final June PMI readings, and we'll see if there was any further improvement

  • or stabilization in supplier delivery timesthat's a measure of supply chain bottlenecks

  • as congestion at ports seems to be easing. And on Friday of course, we get the all-important

  • U.S. jobs report. Weak economic data last year implied easier monetary policy from the

  • Fed and acted as a boon to stocks as investors began to price in a turn around. But now,

  • at least in the near-term, good data could be interpreted as bad news for the stock market

  • where strong economic data especially on jobs could prompt the Fed to unwind earlier and

  • faster. So, a hot jobs reading could get a cold welcome by the stock market. Thanks for

  • watching.

Hi, this is Jeffrey Kleintop with 90 seconds on what we're watching this week that could

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B1 US black sea europe data week stock market market

Weekly Market Outlook | June 28, 2021

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    洪子雯 posted on 2021/06/29
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