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Wall Street heads into the final full week of June with investors focused on inflation data, AI-related earnings, and the health of the banking sector.
The week’s marquee earnings report arrives Wednesday when Micron Technology (MU) reports results. As one of the biggest beneficiaries of the AI boom, Micron’s outlook for memory demand and datacenter spending could have implications across the semiconductor sector. Investors will also be watching investor events from Nvidia (NVDA) and Qualcomm (QCOM) for fresh commentary on AI trends.
Consumer spending will be another major theme. Amazon’s (AMZN) four-day Prime Day event begins Tuesday, while Walmart (WMT), Target (TGT), Best Buy (BBY), and Kohl’s (KSS) are expected to run competing promotions, offering a real-time test of consumer demand.
On the macro front, Thursday’s core PCE report will provide the latest reading on inflation. Economists expect the Fed’s preferred inflation gauge to rise to 3.4%, while durable goods orders and remarks from New York Fed President John Williams could offer additional clues on the economic outlook.
Bank stocks may see heightened attention Wednesday evening when the Federal Reserve releases its annual stress-test results for the largest U.S. lenders, including JPMorgan (JPM), Bank of America (BAC), Goldman Sachs (GS), and Morgan Stanley (MS).
Elsewhere, investors will watch the Russell index reconstitution and GTA VI pre-orders.
Earnings spotlight: Tuesday, June 23: FedEx (FDX), Carnival Corporation (CCL). See the full earnings calendar.
Earnings spotlight: Wednesday, June 24: Micron (MU). See the full earnings calendar.
In case you missed it
What SA Analysts Are Watching
Insider Watch
Check out the week’s top insider trades, highlighting significant purchases and sales by investors, directors, and executives. Notable transactions took place at American Express (AXP), Dell (DELL), and Broadcom (AVGO).
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