As investors prepare for a trickle of economic data and Federal Reserve meeting minutes to be released this week, Washington Crossing Advisors portfolio manager Kevin Caron is watching three key themes for Tuesday and the week ahead.
1. PMI data on tap
Shortly after the market opens on Tuesday, advance Purchasing Managers' Index data will be reported for the month of May. The index is considered a measure of manufacturers' health based upon figures such as companies' new orders, inventory levels and production.
2. Federal Reserve meeting minutes
The Federal Open Market Committee is scheduled to issue meeting minutes Wednesday afternoon, and Caron is considering the Federal Reserve a critical theme for the markets at this juncture.
3. Chinese market data
Movement in Chinese stock markets will be on Caron's radar this week.
"China has been a harbinger of things to come, and what we've seen in the last several trading days has been weakness in the Chinese stock market," Caron said.
Reference: CNBC
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