BlockBeats reported on June 20 that next week’s market focus will remain on Middle East geopolitics and U.S. PCE data. Based on Beijing time, investors will track the Federal Reserve’s annual bank stress-test results, a dense set of U.S. inflation and consumption indicators, and several speeches from Federal Reserve officials during the new week.
Core PCE and U.S. Data Releases
At 04:00 on Thursday, the Federal Reserve will publish the results of its annual bank stress tests. At 20:30 on Thursday, the United States will release initial jobless claims for the week ending June 20, the annual rate of the U.S. core PCE price index for May, the monthly rate of U.S. personal spending for May, the final annualized rate of U.S. real GDP for the first quarter, the preliminary quarterly rate of U.S. real personal consumption expenditures for the first quarter, the final quarterly rate of U.S. real personal consumption expenditures for the first quarter, the final annualized quarterly rate of the U.S. core PCE price index for the first quarter, the monthly rate of the U.S. core PCE price index for May, and the monthly rate of U.S. durable goods orders for May.
The core PCE price index, which the Federal Reserve currently places the greatest weight on, will be released next Thursday together with May personal income and spending data. According to the Cleveland Fed’s inflation nowcasting model, core PCE for May is projected to stay unchanged at 3.3%, while headline PCE is projected to edge up from 3.8% to 4.0%.
Fed Speeches and Micron Earnings
On the Federal Reserve calendar, John Williams, permanent FOMC voter and president of the Federal Reserve Bank of New York, will speak at 03:40 on Friday. Austan Goolsbee, a 2027 FOMC voter and president of the Federal Reserve Bank of Chicago, will speak at 06:30 on Friday. Neel Kashkari, a 2026 FOMC voter and president of the Federal Reserve Bank of Minneapolis, will speak at 23:30 on Friday.
On the corporate earnings side, memory chip manufacturer Micron Technology (MU) will release its quarterly results after the U.S. stock market closes on June 24, which falls on Wednesday. The report will serve as a key gauge of the pulse of chip demand, and the market will use it to observe whether that demand is still accelerating. The company has guided for revenue of $33.5 billion and a gross margin of about 81%.