US stocks declined on Monday in anticipation of the reports on US employment, which are due to be released this week.
Aside from that, S&P 500 and Nasdaq also started the week lower because trading hours were cut due to Memorial Day in the United States.
But the main reason is the upcoming data on US nonfarm payrolls, which may shake the markets if the figures are much lower than expected.
S&P 500 slipped by 0.27%.
As said above, investors are very concerned that upcoming US data may be disappointing, not to mention change the perception on economic recovery.
Key events for this week are:
- policy meeting of the Reserve Bank of Australia (Tuesday);
- OPEC meeting (Tuesday);
- statements from Fed members (Wednesday);
- US employment report for May (Friday).