Nvidia will be key to market's direction as Wall Street heads into the summer with May jobs report on deck

Nvidia is the key to how stocks will perform in the next few months as investors head into a seasonally weak period for markets, with the macroeconomic picture once again a center of attention. The May jobs report is on deck next week. Stocks in May are on pace to cap a winning month after a strong earnings season and signs of easing inflation buoyed investor optimism.

Job Openings Earnings: Hewlett Packard Enterprise , Bath & Body Works Wednesday June 5 9:45 a.m. PMI Composite final 9:45 a.m. Markit PMI Services final 10 a.m. ISM Services PMI Earnings: Campbell Soup , Dollar Tree Thursday June 6 8:30 a.m. Continuing Jobless Claims 8:30 a.m. Initial Claims 8:30 a.m. Unit Labor Costs final 8:30 a.m. Productivity final 8:30 a.m. Trade Balance Earnings: J.M. Smucker Co. Friday June 7 8:30 a.m. May Jobs report 10 a.m. Wholesale Inventories final 12 p.m.

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