Good morning readers, though dealing with lots of uncertainty and fear due to potential recessions or uncontrollable inflation (especially in Europe), investors were reassured by the May Job report (in the United States Stock Exchange). This week will be marked by the release of important economic data linked to inflation.
Here are the 5 things to know before this week’s opening bell
1- Investors In The United States Are Reassured By The May Job Report
As reported by JP Morgan in their weekly stock market recap, companies added about 390K non-farm jobs in the month of May and the unemployment rate in the United States remained unchanged (at 3.6%). Nonetheless, we are seeing an increasing proportion of publicly-listed companies preparing plans to lay off personnel as reported recently by Business Insider.
As of now, indoor vertical farming jobs are still on the hunt to fill in positions as they are facing increasing demand and profitable retail prices for their produce.
Read also: USDA Grants $43 Million for Urban Agriculture and Innovative Production
2- Inflation Is Still Rising in Europe While We Await CPI Data For The United States
Euro area annual inflation is expected to be 8.1% in May 2022, up from 7.4% in April according to a flash estimate from Eurostat, the statistical office of the European Union. Energy prices remain the driving factor for this regional inflation as the EU decided to impose a partial ban on Russian Oil Imports as it witness a nearly 40% increase in May 2022.
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