The US employment report on Friday will be the focus of market attention this week, and Federal Reserve officials will study these data before the June meeting. Currently, Federal Reserve officials are in a period of silence.

There are other economic data this week, including PMI survey results for the manufacturing and service industries, which may reveal the direction of inflation and economic conditions.

In addition, this week's earnings reports from technology and retail companies will also attract the attention of most investors.

US Non-farm Payrolls report coming soon

The May employment report released on Friday will be closely monitored by investors, and the data will be released after several Federal Reserve officials mention the central bank's "dual mission", which requires the Federal Reserve to strike a balance between low inflation and low unemployment rates.

The previous employment report in April showed that employers slowed down recruitment, adding 175000 new jobs lower than economists had expected, and the unemployment rate for the month rose to 3.9%. This slowdown is encouraging for some market observers looking for signs of cooling inflation.

In addition to demonstrating whether job opportunities are still sufficient, the report will also provide details of wage growth, which is an important factor in price trends.

The recent inflation report has prompted several Federal Reserve officials to question the timing of interest rate cuts, as they predicted in March that the Fed may carry out up to three rate cuts this year. Although the inflation outlook has led officials to be cautious about predicting interest rate cuts, a weak labor report may lead some Federal Reserve officials to believe that rate cuts are necessary for the health of the job market.

Investors will also pay attention to Monday's release of the ISM and S&P US Manufacturing Purchasing Managers' Index (PMI), as well as Wednesday's release of the Services PMI, which may provide signals on inflation and Gross Domestic Product (GDP).Federal Reserve officials were in silence prior to the FOMC meeting on June 11-12.

Fed officials were in silence prior to the FOMC meeting on June 11-12.

Technology and retail companies will lead this week's earnings

Technology companies and retailers will dominate this week's earnings, and investors may also focus on the electric car market.

On Tuesday, cybersecurity company CrowdStrike will release earnings. In the last quarter, the company's adjusted earnings per share were 95 cents, beating analysts' expectations, largely thanks to a larger deal size. Other tech companies, such as software maker Samsara, will report earnings on Thursday, and GitLab and SAIC will report earnings on Monday.

Chinese electric car maker NIO's earnings report on Thursday also deserves the attention of market investors.

Lululemon will lead this week's retail corporate earnings, in addition to Dollar Tree, Five Below and Bath & Body Works, among others.

Monday, June 3

• US Manufacturing PMI (May)
• Construction expenditure (April)
• ISM Manufacturing Index (May)
• GitLab and Science Applications International Corp.Release Earnings

Tuesday, June 4

• Factory Orders (April)
• Job Vacancies (April)
• CrowdStrike Holdings and Bath & Body Works Announce Earnings

Wednesday, June 5

• US Services PMI (May)
• ADP Private Sector Employment (May)
• ISM Services Index (May)
• American Productivity (Q1)
• US Trade Deficit (April)
• Lululemon Athletica, Dollar Tree, Campbell Soup and Five Below Report Earnings

Thursday, June 6

• Initial jobless claims (week ending June 1)
• U.S. Productivity and Costs
• Samsara, Docusign, NIO, J.M.Smucker and Vail Resorts Report Earnings

Friday, June 7

• U.S. Nonfarm Payrolls Report (May)
• Consumer Credit (May)
• Wholesale Inventory (Apr)