Wall Street investors in the week ahead are expected to focus on key economic data, including monthly non-farm payrolls report, and on Senate Republicans’ push to pass US President Donald Trump’s “One Big Beautiful Act” legislation.

The Republicans are planning to vote on the proposed budget reconciliation bill over the weekend. It was passed in the House of Representatives on May 22, 2025.

Market participants will keenly monitor the non-farm payrolls data for June, to be released by the Bureau of Labor Statistics on Thursday, for clues on the US Federal Reserve’s interest rate path ahead.

Among other economic data, the markets will see manufacturing and services PMIs for June, TBA auto sales, and factory orders for May.

Economic Calendar

On June 30 (Monday), data on Chicago Business Barometer (PMI) for June will be released.

On July 1 (Tuesday), separate reports on S&P final US manufacturing PMI for June, job openings for May, ISM manufacturing for June, and TBA auto sales for June will be released.

On July 2 (Wednesday), data on ADP employment for June will be released.

On July 3 (Thursday), separate reports on US employment report for June, US trade deficit for May, S&P final US services PMI for June, factory orders for May, and ISM services June will be released.

Earnings

Following companies are due to report first quarter results in the week ahead — Progress Software, Constellation Brands, MSC Industrial Direct Co., The Greenbrier Companies, and UniFirst Corporation.

Markets Last Week

US stocks closed at an all-time high on Friday as trade deal hopes fueled investor risk appetite and economic data helped solidify expectations for rate cuts from the Federal Reserve.

The Dow Jones Industrial Average rose 432.43 points, or 1.00%, to 43,819.27, the S&P 500 gained 32.05 points, or 0.52%, to 6,173.07 and the Nasdaq Composite gained 105.55 points, or 0.52%, to 20,273.46.

In the bond  market, the yield on the 10-year Treasury rose to 4.27% from 4.24%. The 2-year Treasury yield edged up to 3.74%.