June 28, 2015 The Week Ahead

The S&P 500 ended Friday’s action sitting right below it’s yearly highs. That’s pretty impressive given the recent headline risk coming out of Europe and China.

Over the weekend, fears increased that Greece and the ECB would not be able to come up with a resolution. In fact, there are early Sunday reports stating that Greek Banks and their stock exchange will be shut down on Monday.

It’s worth watching how the futures open up this evening. This has the potential to cause a spike in market volatility. Especially, since we are not expecting a lot of volume in the markets, as Friday, we’re closed in honor of Independence Day.

The VIX is slightly above the 14 level as of Friday’s close.

Crude Oil futures finished the week at their lows; closing right below $60 per barrel.

It’s a very light schedule in respect to economic numbers and earnings. In addition, it’s a shortened week. However, the headline risk out of Europe should make things exciting.

Here’s what’s on the schedule:

Key Economic Data:
1 JULY 2015- ISM Manufacturing Index 10:00 AM ET
2 JULY 2015- Employment Situation 8:30 AM ET, Jobless Claims 8:30 AM ET

Key Earnings:
29 JUNE 2015- APOL
30 JUNE 2015- CAG, CAMP
1 JULY 2015- GIS, STZ