PANews June 28 news, this week, the development of the Middle East situation remained the focus of Wall Street. As a ceasefire agreement was reached in the region, energy prices have eased. Oil prices have dropped from $100 per barrel a month ago to around $70. Major U.S. stock indexes will close out a solid first half of the year next week; the S&P 500 (SPX) has risen more than 7% so far in 2026, but stocks experienced a tougher period in June. Gold prices went through sharp swings again this week. Initially, bargain buying and safe-haven demand, combined with stronger-than-expected U.S. economic data, stubborn inflation, a stronger dollar, and rising expectations of Fed rate hikes, morphed into another round of heavy selling that pushed gold prices back near the $4,000 mark. However, in a last-minute spike, gold rebounded back to the edge of $4,100.
Be on high alert for the coming week as a super "data tsunami week" is barreling toward us. Compounding this, U.S. markets will be closed on Friday, July 3 for the Independence Day holiday, squeezing the actual number of trading days. The week also coincides with month-end, quarter-end, and half-year-end institutional rebalancing windows, making market liquidity extremely prone to sudden gaps, which will cause a systematic surge in volatility. This will profoundly affect the risk appetite and trading behavior of short-term traders worldwide. Below are the key focal points for the markets in the new week (all times are Beijing time).
- Monday 00:35, 2027 FOMC voting member, Richmond Fed President Barkin speaks
- Monday 17:00, Eurozone June industrial/economic sentiment index
- Monday 22:30, U.S. June Dallas Fed Business Activity Index
- Tuesday 22:00, U.S. May JOLTS job openings; U.S. June Conference Board Consumer Confidence Index
- Wednesday 15:50-16:30, France, Germany, Eurozone, UK June final Manufacturing PMIs
- Wednesday 17:00, Eurozone June CPI y/y and m/m preliminary
- Wednesday 20:15-22:00, U.S. June ADP employment change, U.S. June S&P Global final Manufacturing PMI, U.S. June ISM Manufacturing PMI, U.S. May construction spending m/m
- Wednesday 21:30, Fed Chair Warsh, ECB President Lagarde, Bank of England Governor Bailey, and Bank of Canada Governor Macklem speak at the ECB Forum
- Thursday 17:00, Eurozone May unemployment rate
- Thursday 20:30, U.S. June unemployment rate, U.S. June nonfarm payrolls (seasonally adjusted), U.S. initial jobless claims for the week ending June 27, U.S. June average hourly earnings y/y and m/m
- Friday 15:50-16:30, France, Germany, Eurozone, UK June final Services PMIs
- Friday 16:00, ECB President Lagarde speaks
- Friday 23:00, Bank of England Governor Bailey speaks on fiscal and monetary policy coordination
