Market Notes for 6/23-6/27
Economic Calendar for the week:
Tuesday (6/24) – Consumer Confidence for June (a gauge of consumer sentiment) at 10:00 AM ET, and Fed Chair Powell speaks (likely providing clues on policy outlook). Any unexpectedly hawkish or dovish tone from Powell could move markets modestly.
Wednesday (6/25) – New Home Sales for May at 10:00 AM ET, plus a second round of remarks from Powell in testimony. Housing data will be watched for signs of resilience or cooling in the real estate market.
Thursday (6/26) – Q1 2025 GDP (final estimate) at 8:30 AM ET. The latest estimate showed a slight annualized contraction (~-0.2%) in Q1, so the final figure will confirm the economy’s early-year softness. Also on Thursday, the regular weekly initial jobless claims report will be monitored pre-market for labor market trends.
Friday (6/27) – May Core PCE Price Index at 8:30 AM ET, the Fed’s preferred inflation metric. Consensus expects core PCE to tick around +0.1% MoM, ~2.2% YoY, indicating gradual disinflation. Markets will be sensitive to any surprise uptick in this inflation reading. Alongside PCE, personal income and spending data for May will be released.
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