Markets are closed tomorrow for the Fourth of July holiday. In the meantime, the United Kingdom is holding an election for its Prime Minister and Parliament tomorrow, with most polls pointing to a major win for the Labour party.

On July 5, the US Bureau of Labor Statistics will release the June jobs report. Nonfarm payrolls are estimated to drop to 190,000, falling below May's 272,000. Unemployment and hourly wages are estimated to hold mostly steady.

New York Federal Reserve President John Williams will speak on July 5 as the keynote speaker at an event organized by the Reserve Bank of India.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

Video Transcript

Now let's take a look at what to watch for the rest of the week.

The markets will be closed tomorrow for the fourth of July holiday.

But there's some news to watch over the UK.

Tomorrow is election day in the United Kingdom.

British voters will elect a new prime minister and parliament and polls suggest it will be a landslide victory for the labor party moving on to Friday.

July 5th.

The full jobs report for June is coming out that morning.

Economists forecasting non farm payrolls to drop down to 190,000 while the unemployment rate holds steady at 4%.

Hourly wages also expected to grow by 0.3% slightly slower compared to the prior reading.

Now, this coming after a better than expected jobs opening print yesterday in A P employment though coming in lower than expected today and moving over to the fed, we get some fed commentary from New York fed President John Williams Friday morning, Williams is giving the keynote a lecture organized by the Reserve Bank of India.

This is coming after comments from Williams today in Portugal about the real neutral rate of interest, expressing skepticism that the neutral rate has risen.

Happy birthday to Meta's threads, the social media site turning one this week its launch began with a Bang Meta scooped up nearly 100 million or 100 monthly act, 100 million monthly active users, I believe in the first three months of threads launch.

But since then, growth has slowed meta ceo Mark Zuckerberg announcing this morning that the app owes more than 100 and 75 million monthly users.

Now, the app was originally marketed, it's a quote unquote friendlier version of X, the site formerly known as Twitter.

And there's still a wide gap between the two X A and March and it sees around 550 million users monthly here.

So again, they've got a ways to go to catch up.

We talked a lot about it when Threads was debuted.

You tried threads, I've tried it.

Have you?

Yeah, I did.

You know, it's not something I check regularly, but I have dabbled with it a little bit.

Yeah, I'm not, let's just say I'm not really surprised that we haven't seen dramatic growth here over the last year.