KEY EVENT: The state Labor Department on Thursday releases Long Island employment data for May, and after a historically bad April report, there’s some reasons for optimism. Fewer Long Islanders have been applying for unemployment benefits recently and the national jobs report for May was far better than expected.
MONDAY: The June Empire State manufacturing survey from the Federal Reserve Bank of New York. The previous report noted that “business activity continued to deteriorate significantly” in May, although “general business conditions” were improved from April’s record low.
TUESDAY: The Commerce Department releases industrial production and retail sales, both for May. In April, retail sales fell a record 16 percent. Also, the National Association of Home Builders releases its June builders’ economic optimism survey. Earnings: Uniondale staffing services provider Volt Information Sciences, Oracle.
WEDNESDAY: May housing starts from the Commerce Department. In April, housing starts fell the most in history.
THURSDAY: Jobless benefits claims for the week ended June 13 from the Labor Department. Earnings: biggest U.S. supermarket operator Kroger, Smith & Wesson.
FRIDAY: The quarterly stock market event known as “quadruple witching” when stock futures, stock options, index futures and index options expire at the same time. The event sometimes causes wild swings in stock prices.