Wall Street Prepares: Fed Policy and Inflation Data Set to Shake Up Markets

In the coming week, Wall Street’s main focus will be on the U.S. Federal Reserve’s policy decisions and important economic data, especially on inflation.

Federal Reserve: On Wednesday, June 12, the Federal Reserve (Fed) will announce its decision on interest rates. The central bank is expected to keep rates unchanged. After the announcement, Fed Chairman Jerome Powell will hold a press conference to explain the decision.

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Economic Data: On the same day, May’s Consumer Price Index (CPI) data will be released, which will give insights into inflation. The next day, June 13, May’s Producer Price Index (PPI) data will be published. On Friday, June 14, we’ll get import price index data for May and a preliminary report on consumer sentiment for June.

Upcoming Tech and Earnings Reports

Apple Event: Apple will host its annual developers’ conference, WWDC, starting Monday. The event may highlight developments in artificial intelligence (AI).

Earnings Reports: Several companies will release their quarterly earnings, including Yext, Calavo Growers, FuelCell Energy, Oracle, Casey’s General Stores, ZEEKR, Rubrik, Broadcom, Dave & Buster’s Entertainment, Oxford Industries, Signet Jewelers, Adobe, and RH.

Market Recap

Last week, U.S. stocks dipped slightly after a stronger-than-expected jobs report for May.

• Dow Jones: Dropped 87.18 points (0.22%) to 38,798.99.
• S&P 500: Fell 5.97 points (0.11%) to 5,346.99.
• Nasdaq: Declined 39.99 points (0.23%) to 17,133.13.

Treasury Yields: The 10-year yield increased to 4.43% from 4.29%, and the 2-year yield rose to 4.89% from 4.74%.

Currencies: The U.S. dollar strengthened to 156.65 yen from 155.69 yen. The euro fell to $1.0804 from $1.0892.

Commodities: Brent crude fell 25 cents to $79.62 per barrel, while U.S. crude lost 2 cents to $75.53 per barrel. Gold dropped $65.90 to $2,325 per ounce, and silver fell $1.93 to $29.44 per ounce.