SPDR® S&P 500® ETF Trust (SPY)Clark Schultz,
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Welcome to Seeking Alpha’s Catalyst Watch – a breakdown of some of the next week’s actionable events that stand out. Check out Seeking Alpha’s earnings calendar for a complete list of companies due to report.
Monday July 1
- Volatility Monitoring – Options Trading volume has increased significantly on Grindr (GRND) and Virgin Galactic (SPCE). The most overbought stocks based on their 14-day Relative Strength Index include United Therapeutics (UTHR), Insmed (INSM) and Alimera Sciences (FOOD). The most oversold stocks according to its 14-day relative strength index include Ovid Therapeutics (Ovid), G1 Therapeutics (GTHX) and Shattuck Labs (STTK). Short-term interest remains very high in Applied DNA Sciences (APDN) and Zapp electric vehicles (ZAPP) looking ahead to next week's action.
- All week – Key data reports coming during the week include updates on deliveries from Tesla (TSLA), Nio (NIO), XPeng (XPEV), Rivian Automotive (RIVN), Li Auto (LI), and Lucid Group (LCID). Quarterly sales reports from General Motors (GM), Ford Motor (F), and Toyota (TM) will also be closely watched. Investors will also monitor Macau's monthly gaming gross revenue report, monthly Class 8 truck order update, FBI firearms background check data, and DART discount broker reports.
- All day – The FTC will hold a closed-door meeting. There is talk that the topic could be the planned merger between Tempur Sealy (TPX) and Mattress Firm (MFRM).
- All day – KORE Group (KORE) will begin trading on a split-adjusted basis following the company's 1-for-5 reverse stock split.
- 10:00 am The construction spending report for May will be published.
Tuesday – July 2
- Earnings Watch – Notable companies set to report include MSC Industrial (MSM), Polestar Automotive (PSNY) and Simulations Plus (SLP).
- All day – Notable investor events include the annual meetings of Box (BOX) and Snowflake (SNOW).
- All day – Four years have passed since Lemonade (LMND) went public. Shares were trading more than 30% below their IPO trading level at press time.
- 09:30 am Federal Reserve Chair Jerome Powell will participate in a policy panel ahead of the European Central Bank Forum on Central Banking 2024.
Wednesday, July 3rd
- Earnings Watch – Notable companies required to report include Constellation Brands (STZ).
- All day – Universal Studio’s (CMCSA) Despicable Me 4 is set for a domestic release. The film is expected to surpass $100 million in its extended five-day opening weekend. The franchise has a strong track record with Despicable Me ($251.7 million), Despicable Me 2 ($368 million), Minions ($336 million), Despicable Me 3 ($264.6 million) and Minions: The Rise of Gru ($370.2 million) all performing well at the box office.
- All day – The three-day Droidcon Berlin conference for Android developers will begin in Berlin.
- All day – ASLAN Pharmaceuticals (ASLN) will begin trading following a one-for-eight reverse ADS split.
- All day – May factory orders report to be released.
- 7 am – Federal Reserve Bank of New York President John Williams is scheduled to speak at an ECB forum.
- 10:30 a.m. The EIA's crude oil inventory report is expected to attract more attention than usual.
- 13:00 US stock markets will close early ahead of the Independence Day holiday.
- 2:00 pm The Federal Reserve will release the minutes of the June FOMC meeting.
Thursday July 4
- All day – US stock markets will be closed for the Independence Day holiday.
- All day – The European Union plans to begin imposing provisional tariffs of 17.4% to 38.1% on electric vehicles from China for four months.
Friday, July 5
- All day – The UN Food Price Index and FAO Cereals Report will be released.
- 08:30 am The US employment report for May will be released. Economists predict that 180,000 jobs were created in the economy during the month and that the unemployment rate remained at 4.0%.
Seeking Alpha editor Josh Fineman contributed to this story.
