Key Takeaways<\/p>\n
The Federal Reserve held interest rates<\/a>\u00a0steady\u00a0last week. Now, Fed Chair Jerome Powell will explain the central bank\u2019s views on the economy to legislators when he delivers his regularly scheduled testimony to Congress this week.\n<\/p>\n Central bankers have stood pat as they are concerned inflation will reignite in the wake of tariffs. The Personal Consumption Expenditures (PCE)<\/a> for May should tell them more when it’s released later in the week. Investors will also be watching for updates on first-quarter\u00a0gross domestic product (GDP)<\/a>, housing market data, and the latest developments in consumer confidence.\u00a0\n<\/p>\n Earnings from shoe retailer Nike\u00a0 (NKE<\/a>), package delivery service FedEx (FDX<\/a>), and chipmaker Micron Technology (MU<\/a>) come as corporations continue to assess the impact that tariffs could have on their operations. And Tesla\u2019s anticipated rollout of its self-driving robotaxi is likely to be on investors’ minds this week.\n<\/p>\n Read to the bottom for our calendar of key events\u2014and one more thing.\n<\/p>\n Powell Congressional Testimony Follows Rate Decision <\/p>\n On the heels of last week\u2019s Federal Reserve meeting, Powell will testify before Congress to give lawmakers an update on the central bank\u2019s views on inflation and the economy. Powell is scheduled to testify before the House Financial Services Committee on Tuesday and the Senate Banking Committee on Wednesday. Several other Fed officials are also scheduled to deliver remarks during the week.\n<\/p>\n The hearings could provide some market-moving moments, especially as political allies of President Donald Trump may take the opportunity to grill Powell. Trump has criticized Powell<\/a> for the central bank\u2019s reluctance to lower interest rates<\/a>, a complaint that could be echoed by some lawmakers.\n<\/p>\n Trump has pointed to lower inflation rates as a reason for the Fed to lower rates. Market watchers will get another look at inflation on Friday with the release of the Personal Consumption Expenditures (PCE) report for May. PCE is important because it\u2019s the data the Fed looks at when gauging whether inflation is returning to its target rate of 2%. Inflation has been declining, with the PCE coming in just over the target rate<\/a> in April.\u00a0\n<\/p>\n Nike, FedEx, Micron Earnings in Focus\u00a0 <\/p>\n Athletic apparel giant Nike, a member of the Dow 30<\/a>, will lead corporate earnings this week with its scheduled update on Thursday. The struggling shoe maker warned during its prior quarterly report that tariffs could impact the company<\/a>, coming as it reported declines in revenue and earnings. But analysts said the recent merger of Dick’s Sporting Goods (DKS<\/a>) and Foot Locker (FL<\/a>) could help Nike boost sales.\n<\/p>\n FedEx scheduled earnings on Tuesday come as the shipping stalwart warned of lower revenue and profits during its prior quarterly report. Investors watch FedEx earnings because they can provide a view of shipping volumes, which in turn can offer insight into the overall health of the economy, and especially on global trade.\n<\/p>\n Investors will also be watching Micron Technology\u2019s scheduled report on Wednesday, which comes after the chipmaker pledged a $200 billion investment<\/a> to boost semiconductor production in the U.S.\n<\/p>\n Tesla (TSLA<\/a>) is tentatively scheduled to roll out its robotaxi service in Austin, Texas, on Sunday, June 22, though product updates have been delayed in the past. Expect Tesla\u2019s robotaxi to grab headlines and potentially move the EV maker\u2019s stock throughout the week, especially if Sunday\u2019s launch is delayed.\u00a0\n<\/p>\n Quick Links: Recap Last Week\u2019s Trading<\/a> | Latest Markets News<\/a>\u00a0\n<\/p>\n This Week\u2019s Calendar <\/p>\n Monday, June 23<\/strong>\n<\/p>\n Tuesday, June 24<\/strong>\n<\/p>\n Wednesday, June 25<\/strong>\n<\/p>\n Thursday, June 26<\/strong>\n<\/p>\n Friday, June 27<\/strong>\n<\/p>\n One More Thing <\/p>\n The U.S. has a lot of millionaires and is adding 1,000 more every day, more than anywhere else in the world. Investopedia\u2019s Nisha Gopalan<\/a> looked at wealth creation in both the U.S. and around the globe. Read more about it here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Key Takeaways Federal Reserve Chair Jerome Powell will deliver testimony to Congress, while other Fed officials are also…\n","protected":false},"author":2,"featured_media":204873,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[51,2441,16,15],"class_list":{"0":"post-204872","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114726528905462979","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/204872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=204872"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/204872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/204873"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=204872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=204872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=204872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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