The Week Ahead on Wall Street: Apple’s First WWDC without Steve Jobs, China Slowing Quickly
After seeing the market’s best week of the year, marketwatchers will face a new one with the bad news from abroad: Spain’s banking crisis and Chinese economic data.
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On Saturday, Spain said it would ask the European Union for up to EUR 100 billion ($125 billion) in loans to assist with its troubled banking sector. Greece could also be part of the conversation this week as it still decides whether or not to leave the euro before the country’s June 17 elections.
In China, the country released a slew of reports on Saturday including PPI, CPI, industrial production, retail sales and fixed-asset investment numbers. Data showed that its economy has slowed quicker than analysts’ estimates.
Back in the U.S., on Monday Apple (NASDAQ:AAPL) will hold its first developers’ conference without former CEO and founder Steve Jobs. The company hasn’t confirmed if CEO Tim Cook will deliver the keynote speech as Jobs usually did but it will give operating system updates for its Mac PC and iOS.
There’s still economic numbers to keep an eye on this week and a few quarter earnings reports.
Tuesday: May NFIB Small Business index, May import prices and May federal budget.
Wednesday: May producer prices, May retail sales and April business inventories.
Thursday: Weekly jobless claims, May consumer prices and first quarter current acct balance.
Friday: June NY Fed Empire State Survey, May industrial production, May Capacity utilization, June Reuters/UMich Consumer Sentiment and first-time jobless claims from the week of June 6 – June 9.
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