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Earnings reports are an integral part of an investor’s due diligence when researching a company. Navigating the fine print of an earnings report isn’t always straightforward. Our blog post will help you make sense of it all.
The June ISM® (Institute for Supply Management®) Manufacturing PMI® registered at 49.0%, a gain of 0.5 percentage point from May’s seasonally adjusted reading. This marks the fourth consecutive month of contraction in the manufacturing sector, following a brief two-month expansion period. The New Orders Index fell for the fifth straight month to 46.4%, down 1.2 points, highlighting persistently soft demand. In contrast, the Production Index rebounded into expansion territory at 50.3%, up 4.9 points, indicating a pickup in output. The Employment Index slipped deeper into contraction at 45.0%, down 1.8 points, reflecting ongoing workforce reductions. The Prices Index remained elevated at 69.7%, a 3-point rise, indicating persistent cost pressures. On the supply side, the Supplier Deliveries Index decreased slightly to 54.2% (still reflecting slower deliveries), and the Inventories Index moved up to 49.2%, indicating steadier inventory levels. Meanwhile, the New Export Orders Index rose to 46.3%, and the Imports Index increased to 47.4%, both improved substantially yet remain in contraction.
The U.S. Energy Information Administration reported that for the week ending June 27, 2025, U.S. commercial crude oil inventories rose by 3.8 million barrels to 419 million barrels, about 9% below the five-year average. Gasoline inventories increased by 4.2 million barrels, standing roughly 1% below the five-year average, while distillate fuel inventories declined by 1.7 million barrels and are at about 21% below the five-year average. Total commercial petroleum inventories rose by 9.4 million barrels. Refineries operated at 94.9% of their operable capacity, processing 17.1 million barrels per day. Crude oil imports averaged 6.9 million barrels per day, up 976,000 barrels from the prior week. Motor gasoline imports averaged 906,000 barrels per day, while distillate fuel imports averaged 118,000 barrels per day.
The U.S. Bureau of Labor Statistics reported an increase of 147,000 jobs in June as the unemployment rate edged down slightly to 4.1%, with the number of unemployed little changed at 7.0 million. A year earlier the jobless rate was 4.1% and unemployment totaled approximately 6.8 million. The June job gains were led by state government (+47,000), including education (+40,000), and health care (+39,000), while the federal government continued to shed jobs (-7,000). Social assistance also added jobs (+19,000), while gains in other sectors were minimal. Average hourly earnings grew by 0.2% to $36.30, marking a 3.7% increase over the past year. Meanwhile, the number of long-term unemployed (those jobless 27 weeks or more) rose to 1.6 million – 23.3% of the total unemployed, up from 1.5 million (20.4%) in May. Revisions to April and May data showed that 16,000 more jobs were added than previously reported.
Tuesday July 8 – Consumer Credit (May)
Wednesday July 9 – FOMC Minutes (June)
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