The Week Ahead: Is the Country Just Jacked up on Stimulus‪?‬ Advisorpedia's The Week Ahead Podcast, Powered by Tematica Research

Join Tematica Research's Chief Macro Strategist, Lenore Hawkins, and Chief Investment Officer, Chris Versace, as they discuss and debate what's driving the market and the economy this week.

Last week markets


Nasdaq Composite down -0.9% (YTD +5.6%)
S&P 500 flat (YTD +11.6%)
Dow up 0.7% (YTD +13%)
Russell up 0.3% (YTD +15.4%)\
Bitcoin is also hanging on to its rebound this week somewhat at $37k - $38k up 33% YTD after hitting nearly $64k in mid April
Gold can’t handle the risk-on momentum here and is down to under $1,869 an ounce as is basically flat on the year - broke $2k last August


Last Week STOCKS and EARNINGS

The meme stocks are back and no one is yawning here. Through Thursday’s close


Nokia (NOK) up 10.7%
Bed Bath & Beyond (BBBY) up 20.4%
Koss Corp (KOSS) up 48.3%
Blackberry Ltd (BB) up 68.0%
AMC Entertainment up 160.1% (Was up 95% Wednesday then down 23% Thursday)


Thursday Twitter (TWTR) unveiled Twitter Blue, its first-ever subscription offering, which is going live in Canada and Australia for its initial phase so that the company can better understand what users want.

Costco Wholesale (COST): latest monthly sales data - double digit gains across the board - consumers are still in spend mode during May

Cybersecurity stocks got a boost. Over the weekend, meat processing company JBS SA (JBSAY) determined its Australian and North American units were the target of an organized cybersecurity attack, affecting some of the servers supporting its North American and Australian IT systems. 

United Airlines (UA) looking to revive supersonic travel.

Economic Data — Last Week


Friday’s jobs # disappointed with 559k new jobs v 671k(e) but up from 266k(p)
UR fell to 5.9% from 6.1% while broader measure at 10.2%
Global food prices rose by the biggest margin in a decade according to the UN Food an Agriculture Organization’s monthly index, which jumped 40% in May.
Global housing markets in a bubble?
We’re already seeing Q2 estimates coming under the knife 


This Week

Tuesday, June


April Trade Balances - trade deficit in March widened to a new record high of $74.4b from $70.5 in Feb driven by a 6.3% increase in imports to an all-time high. Exports rose 6.6% to a 13-month high
JOLTS report - job opening rose 597k to 8.123 million in March - the highest level on record going back to Dec 2000 and well above expectations for 7.5m


Wednesday, June 9


Weekly MBA Mortgage Applications Index - Just saw 4% drop following a 4.2% decline
April Wholesale Inventories - growth has been slowing (April +08% after downwardly revised +1.1% in March)


Thursday, June 10 


Weekly and Continuing Jobless Claims
May Consumer Price Index
May Treasury Budget - does anyone even care anymore? Biden has indicated he is willing to drop his demands for an increase in the US corporate tax rate if enough Republicans agree to support his surge in infrastructure spending


Friday, June 11 


University of Michigan Consumer Sentiment Index – Preliminary


STOCKS & EARNINGS — This Week 

Monday, June 7


Marvell (MRVL) - Company is a leading supplier to Samsung, Nokia and Ericsson, so we want to know what it sees on the chip shortage front, how is it impacting its business and when does the company see it coming to an end? Also, what’s it outlook for the second half of the year, particularly on the 5G front?


Tuesday, June 8: 


Navistar (NAV) - Trucks are one of the life bloods of the economy - does the company see a rebound in new orders, and if so is it because the economy is heating up or because of growing demand for e-Trucks?
Calavo Growers (CWGW) - restaurants!


Wednesday, June 9: 


Brown Forman (BF-B:NYSE) - restaurants
RH (RH) - company recently shared in its shareholder letter that it plan on leveraging its brand to expand its business, we hope to learn more on that but also if it sees any slowdown in the housing sector…


Thursday,