Monday Market Must-Knows: July 1, 2024

With the Fourth of July holiday on Thursday, expect a light trading week due to reduced market liquidity as many institutional players take time off. This can lead to volatility, as even small trades might cause significant market swings. 

Jerome Powell, Chairman of the FOMC, will speak at the European Central Bank forum on Tuesday at 9:30 a.m. Eastern Time, potentially impacting markets. The FOMC meeting minutes release on Wednesday could also trigger volatility. 

Key employment data include JOLTS Job Openings on Tuesday, ADP Non-Farm Employment Change, and unemployment claims on Wednesday, followed by the unemployment rate and non-farm employment change on Friday. The unemployment rate is expected to remain at 4%. 

Additionally, upcoming UK Parliament elections may impact the British pound and related markets. This week may be quieter, but stay cautious of potential market moves due to low trading volume. 

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