Morning Market Feed, June 3rd

May has come to an end as institutions had one final show for us into the close Friday, which I didn’t mind as it lifted my portfolio from red, to green. But as we look ahead we have one fairly important earnings report coming for me, we also have some important economic data points coming this week for which we will see what is expected


- lulu earnings coming up…

lululemon is expected to report earnings this coming Wednesday, and they are of slight importance to me as lulu became the largest holding from my social media portfolio. I have also covered this stock twice in a YouTube video lately, first in a stock analysis which you can see through the button below.

More recently, I made a video going over the issues the company is facing and why it has sold down 35% since the last earnings report. In the most recent days, the stock has seen some life again as investors may anticipate an earnings report that is not as bad as feared. Analysts are projecting $2.40 of EPS, on $2.2 billion of revenues, this compares to $2.28 of EPS on $2.0 billion of revenue in Q1’23. The video going over the problems the company is currently facing can be seen by clicking the button below.

- Economic Data Points

In the coming week, we are expecting some important economic data points, which may cause troubles or relieve in the market. The first of them is the JOLTs Job Openings. This number will be released Tuesday, and is expected to come in at 8.35 million. Having this number come in higher will make the economy look strong and delay expected rate cuts, having this number come in low may signal economic troubles, but faster rate cuts.

On Friday we will see the Average Hourly Earnings and nonfarm payrolls. This number has also been a source of head scratches as hourly earnings have been coming in hot in recent reports. The forecast for this number is 0.3% for the MoM figure, and 3.9% for the YoY number. The increased wages bring fears of inflation that keep ticking up, and creating a wage-price spiral, where earnings keep increasing to cover the additional costs of inflation, to in turn, cause more of it.
We will also see the unemployment rate which is expected at 3.9%.


So let’s get started with the week and see if it can be a week where new highs are being made.


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Morning Market Feed, June 4th

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Morning Market Feed, May 31st