5 Major Developments Affecting Markets – GDP Revision

Market Movements

5 Major Developments Affecting Markets; Nasdaq futures underperform again in the pre market as stagflation hits Apple and NVIDIA. The US will release last week's unemployment claims, along with revised GDP figures for the first quarter, amid labor market growth indicators. Updates from Dollar General and Dollar Tree may shed light on how quickly consumers are cutting back on their spending. Russia's central bank has cut interest rates sharply as the risk of financial instability diminishes, and the UK is poised to raid energy producers to help poorer households. Here's what you need to know in financial markets on Sunday, June 6th.

2. US GDP revision, Unemployment Claims Due

The US will release revised data for first quarter gross domestic product. Analysts are only expecting a marginal increase of 0.1%, from a preview of the 1.4% decline in the quarter. The first figure owed much to declining stocks, but indicators point to an incipient slowdown in consumer spending. Data since then show that the slowdown has become more severe as inflation looms. Naturally, along with the unemployment claims, there will be weekly unemployment applications to be paid. These have started to increase from historical lows since the beginning of April, and further increases are likely in the coming weeks as more and more companies come under pressure to improve their profit margins. Initial claims are expected to stay around 218,000, which is a six-week high.