The holiday-shortened trading week will feature a series of key U.S. labor market reports, starting with the JOLTS report for May on Tuesday, where job openings are expected to rise to 7.7 million from 7.6 million. On Wednesday, ADP private-sector payrolls for June are forecast to come in at 110,000, down from 122,000 in May but still marking the first three-month streak above 100,000 since early 2025. Thursday brings the BLS non-farm payrolls report for June, with headline jobs expected to fall to 118,000 from 172,000, while the unemployment rate is projected to hold steady at 4.3% and wages are seen rising 0.3% month-over-month and 3.5% year-over-year. Oil prices have returned to pre-Iran war lows, with WTI at $70 per barrel and Brent at $72, despite renewed fighting over the weekend.
Automatic Data Processing IncADP private-sector payrolls report is expected to show a decline, but still above 100k for third straight month; mixed implications for ADP's payroll processing business.