Last week was a solid win for equities, with diversified strength across large, mid, and small-cap segments. The labor market resilience and easing trade tensions drove investor optimism. Tech stocks led the charge, but broad market participation—including small-caps—suggests widespread confidence. The major U.S. stock indexes recorded their second positive week in a row, rising around 1% to 2% for the week.
Market and Economic Data Summary
May Nonfarm Payrolls & Jobs Report (Friday, June 6)
- +139,000 jobs added, slightly below the 12‑month average (~160K), with prior months revised lower.
- The unemployment rate was steady at 4.2%.
- Wages grew ~3.9% YoY, raising inflation concerns.
ADP Private-Sector Employment (Wednesday, June 4)
- A meager +37,000 jobs, the slowest monthly private hiring in over two years.
ISM Services PMI (Wednesday, June 4)
- Dropped to 49.9, marking the first contraction in nearly a year (below 50 threshold).
- Input prices surged to the highest level since Nov 2022.
ISM Manufacturing PMI (Monday, June 2)
- Came in at ~48.5, continuing a third consecutive month of contraction.
- Manufacturing orders, employment, and backlogs declined.
How did oil do?
The price of U.S. crude oil surged more than 6% as the commodity climbed to its highest price in six weeks. The gain offset modest price declines for oil over the previous two weeks.
What’s on the horizon for interest rates?
The Fed is expected to keep interest rates steady as the U.S. labor market shows signs of slowing without signaling a full downturn. Despite some market anticipation of potential rate cuts. This decision is driven by a variety of factors, including concerns about inflation, the strength of the labor market, and the potential impact of trade policies.
Important data next Wednesday…
A Consumer Price Index (CPI) report due Wednesday will reveal whether the recent slowdown in inflation continued into May, even as tariffs and global trade tensions remain high. The previous CPI report showed annual inflation at 2.3% in April, down from 2.4% in March. Core inflation, which excludes food and energy, held steady at 2.8% month over month.Despite tariff concerns, equity markets were nearly flat on Friday and closed the month of May with a gain.
Apple could see a swing in price….
Wall Street anticipates a fairly contained swing in Apple’s stock during the week as the company’s WWDC 2025 aims to be a software-filled showcase: sleek system-wide redesign, beefed-up AI, new gaming platform, smarter accessories, and empowering developer tools—with hardware surprises a bonus.
Crypto News
Bitcoin (BTC)
- Price: Now around $105,744, up roughly 1.3% from last Friday’s close.
- Overview: Bitcoin remains in a consolidating uptrend, rebounding after a dip midweek when it briefly touched near $104K. In the broader week, BTC gained around +2% as institutional interest remained steady and macro conditions were supportive.
Ethereum (ETH)
- Price: Currently trading at $2,529, reflecting a 2.1% weekly gain.
- Overview: ETH continued its ascent, driven largely by optimism around potential U.S. spot ETF approvals and renewed developer network activity.
The Week Ahead:
Economic:
- Monday (6/9): Wholesale Inventories
- Tuesday (6/10): -no reports-
- Wednesday (6/11): Consumer Price Index (CPI), EIA Crude Oil Inventories, MBA Mortgage Applications Index, Treasury Budget; 10-year Treasury Note Auction
- Thursday (6/12): Producer Price Index (PPI), Continuing Claims, EIA Natural Gas Inventories, Initial Claims; 30-Year Treasury Bond Auction
- Friday (6/13): University of Michigan Consumer Sentiment – Preliminary
Earnings:
- Monday (6/9): Casey’s General Stores Inc. (CASY), Calavo Growers Inc. (CVGW)
- Tuesday (6/10): J.M. Smuckers Co. (SJM), Core & Main Inc. (CNM), Academy Sports and Outdoors Inc. (ASO), GameStop Corp. (GME), GitLab Inc. (GTLB), Dave & Buster’s Entertainment Inc. (PLAY)
- Wednesday (6/11): Chewy Inc. (CHWY), SailPoint Inc. (SAIL), Victoria’s Secret & Co. (VSCO), Oracle Corp. (ORCL)
- Thursday (6/12): Lovesac Co. (LOVE), RH Inc. (RH)
- Friday (6/13): -no reports-
Other:
- Apple’s Worldwide Development Conference (WWDC) kicks off (6/9-6/13)
Here’s what’s expected at Apple’s WWDC 2025, running June 9–13, with the keynote kicking off June 9 at 10 a.m. PT:
Major Software Releases & Redesign
- iOS 26 (aka iOS 19): A sweeping “Solarium” interface makeover inspired by visionOS — featuring rounded icons, translucent menus, revamped Camera, Phone, and Safari apps, plus synchronized backgrounds and interactive widgets.
- iPadOS 26, macOS 26 (“Tahoe”), watchOS 12, tvOS 19, visionOS 3: All follow suit with unified UI changes and deeper cross‑platform integration.
Apple Intelligence (AI)
- Enhanced Siri and AI tools: Expect Apple to broaden Siri’s contextual awareness, introduce developer-accessible AI models, and roll out more robust on-device and cloud-based ML features.
- Writing Tools & Image Playground expansion: Continued enhancements in writing assistance, image generation, and Genmoji are anticipated.
New Gaming App
- Launch of a centralized “Games” app—a multi‑platform hub (iPhone, iPad, Mac, Apple TV) replacing Game Center, with achievements, leaderboards, and editorial content.
AirPods Upgrades
- Expect real-time translation, gesture controls (e.g., nod/shake to accept calls), tap to snap a picture, improved sleep detection, and auto-pause features.
watchOS & tvOS Enhancements
- watchOS 12 gets a customizable Control Center with third-party widgets, better health features, and deeper app integration.
- tvOS 19 also receives Solarium UI refreshes and possibly expanded gaming or AR/VR capabilities.
Developer Tools & AI SDK
- Enhanced Xcode, Swift 6, ARKit/ML frameworks, and an AI SDK enabling third-party apps to tap into Apple’s AI models.
- Developers may also see universal control updates, interactive widgets, and performance-battery improvements.
Possible Hardware Reveals
- Potential tease or announcement of a Mac Pro with M‑series chip, or new HomePod with display/“homeOS”
- No full Vision Pro 2 expected, but preview of visionOS 3 and AR/VR tools are likely.
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