U.S. Trade Deficit Might Shrink This Much In May, Here's The Major Macro Issues For Thursday

The Nasdaq settled higher on Wednesday, with shares of Meta Platforms, Inc. META gaining around 1% in the previous session. Meta prosecuted Octopus Data, the U.S. subsidiary of a Chinese national high-tech enterprise Shenzhen Vision Information Technology Co.

Below is a look at the major economic reports scheduled for release today.

• The Challenger job-cut report for June is scheduled for release at 7:30 a.m. ET.
• The ADP national employment report for June is scheduled for release at 8:15 a.m. ET. Analysts expect June’s private payrolls rising 200,000, compared to 128,000 growth in the previous month.
• International trade report for May will be released at 8:30 a.m. ET. Analysts expect a deficit of $85.2 billion for total goods and services trade in May, compared with an $87.1 billion gap in the previous month.
• Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Jobless claims are expected to decline slightly to 230,000 for the July 2 week, from 231,000 in the previous week.
• The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
• The Energy Information Administration’s weekly report on petroleum inventories in the U.S. will be released at 11:00 a.m. ET.
• The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
• Federal Reserve Bank of St. Louis President James Bullard is set to speak at 1:00 p.m. ET.
• Federal Reserve Governor Christopher Waller will speak at 1:00 p.m. ET.

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