When it comes to the economy and money, this week will be very important. The most important things that will happen in May are inflation figures and a decision by the Federal Reserve on interest rates.
The CAPI for May will be released by the Bureau of Labor Statistics on Wednesday morning. The Federal Open Market Committee meets on Tuesday and Wednesday, and the report will give them more things to talk about. On Wednesday at 2 p.m. ET, the Fed will make a decision on monetary policy. Thirty minutes later, Fed Chair Jerome Powell will sit down with the press. The markets mostly think that the committee’s goal range for the federal funds rate, which is currently between 5.25% and 5.50%, will not change.
The producer price index for May will be released by the BLS on Thursday. On Friday, the Bank of Japan makes its choice about monetary policy public.
This week, Oracle on Tuesday, Broadcom on Wednesday, and Adobe on Thursday will be the most important results calls. Apple will also hold its yearly developers conference on Monday. This is where the company is likely to reveal its plan for AI.
Monday, June 10
The Worldwide Developers Conference at Apple starts in Cupertino, California, with a speech from CEO Tim Cook. A lot of people are expecting the company that makes iPhones to explain its plans for AI software. The meeting lasts until Friday, June 14.
Tuesday, June 11
Oracle releases its fiscal year 2024 fourth-quarter results.
The Small Business Optimism Index for May is out from the National Federation of Independent Business. We expect an 89.7 reading, which is the same as the April number.
Wednesday, June 12
Broadcom reports earnings for the second quarter of fiscal year 2024.
The consumer price index for May is released by the Bureau of Labor Statistics. Most people think that the CPI will rise by 3.4% year over year, which is the same amount that it rose in April. The core CPI, which doesn’t include prices for things like food and energy, is expected to rise 3.5%, which is 0.01% less than what was predicted before.
The Federal Open Market Committee makes its choice about monetary policy public. It’s almost certain that the FOMC will keep the federal funds rate at 5.25% to 5.50%. The central bank will also put out its Summary of Economic Projections every three months. The March SEP showed that most people thought interest rates would go down by three quarters of a point this year. Traders think that interest rates will go down by one to two quarter points by the end of the year.
Thursday, June 13
Adobe reports its fiscal numbers for the second quarter of 2024.
The May producer price index is made public by the BLS. Economists think that both the PPI and the core PPI will go up by 2.5%. This is different from April, when prices went up 2.2% and 2.4%, respectively.
Friday, June 14
The Bank of Japan makes its choice about monetary policy public. It is likely that the Bank of Japan will keep its short-term rate goal at 0 to 0.1%. The central bank raised rates for the first time in 17 years in March. This stopped the negative interest-rate policy that had been in place since 2016.
The Consumer Sentiment Index for June is out from the University of Michigan. A score of 73 is what most people want, which is four points higher than before. People thought inflation would be 3.3% in the coming year, which was the highest number seen in six months.
