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What to Watch: Employment Data Ahead Friday Fed Blackout

US TSYS
  • Focus on ADP private employment data (one day delayed due to extended Memorial Day holiday) coming up at 0815ET, a precursor to Friday's NFP data for May. Key employment figures with the Federal Reserve entering media blackout in regards to monetary policy tomorrow at midnight.
  • Additional data includes Weekly Jobless and Continuing Claims, Nonfarm Productivity and Unit Labor Costs at 0830ET. S&P Global US Manufacturing PMI follows at 0945ET, ISM data at 1000.
  • Scheduled Fed speak has Philly Fed Harker presenting his economic outlook at a NABE event (text, Q&A, live streamed) at 1300ET after expressing support of a pause in hikes at the June 14 FOMC yesterday.
  • Of course, Fiscal Responsibility Act headline watching after bill passed the House yesterday, heads to the Senate.

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