June 5, 2016 The Week Ahead

The S&P 500 closed the week relatively flat, however; things got real interesting on Friday after a much weaker than expected jobs number. In fact, it was on of the worst numbers in years. With that said, many market participants now believe that the economy is too weak for the Fed to raise interest rates in June. This caused the market to sell off initially on Friday, but it managed to bounce back to modest losses.

The VIX on Friday hit a high of 14.66 only to see it sell off at the end of the day. The VIX was little changed for the week, closing at 13.47.

The OPEC meeting turned out to be a non-event. With that said, crude oil futures prices didn’t move much during the week. Currently, prices are 86% higher from their six month lows. As we stand, we’re a tad under $49.

Here is what is on tap for this upcoming week:

Key Economic Data:
8 June 2016- EIA Petroleum Status 10:30 AM ET
9 June 2016- Jobless Claims 8:30 AM ET

Key Earnings:
6 June 2016- UNFI, THO, SIGM
7 June 2016- MIK, VNCE, VRX, PAY, PLAY, VRNT
8 June 2016- TLRD, RH
9 June 2016- SJM, MFRM, HRB

Key Events:
6 June 2016- Goldman Lodging, Gaming, Restaurant and Leisure Conference (runs till 6/7); Stifel Tech, Internet, and Media Conference (runs till 6/8)
7 June 2016- Bank America Global Telecom & Media Conference (runs till 6/9); Goldman Healthcare Conference (runs till 6/9); Jefferies Healthcare Conference (runs till 6/10); JP Morgan Auto Conference (runs till 6/7)
8 June 2016- Credit Suisse Global Energy Conference (runs till 6/9); Deutsche Bank 7th Annual Global Industrials & Basic Materials Conference (runs till 6/9)