Federal Reserve Meeting, Oracle and Adobe Earnings, May Inflation Data, and More to Watch This Week – Barron’s

Written by Amanda

Federal Reserve Meeting, Oracle and Adobe Earnings, May Inflation Data, and More to Watch This Week  Barron’s


It will be a quiet week on the earnings calendar between earnings seasons. The most important event of the week for investors will be the conclusion of the Federal Reserve’s interest rate-setting committee’s June meeting on Wednesday.

The Federal Open Market Committee will issue a monetary policy decision after its two-day meeting ends on Wednesday. Chairman Jerome Powell will present and answer questions from the press that afternoon. The FOMC is all but guaranteed to raise its Fed Funds target by half a percentage point, to a range of 1.25% to 1.50%.

FOMC officials will also update their projections for economic growth, the unemployment rate, inflation, and future interest rates on Wednesday. That will give economists and investors greater insight into the committee’s possible next moves.

Companies reporting earnings this week will include Oracle on Monday evening, Kroger on Thursday morning, and Adobe on Thursday evening. The New York Times Company also hosts an investor day on Monday and  NextEra Energy hosts an investor day on Tuesday.

Economic data out this week will include the Bureau of Labor Statistics’ Producer Price Index on Tuesday. It is expected to have climbed 0.7% in May, for a 10.8% year-over-year increase. Excluding food and energy components, the core PPI is seen rising 0.6% last month and 8.7% from a year earlier.

Monday 6/13

Oracle reports fourth-quarter results. Analysts are looking for lower earnings per share of $1.37 versus $1.54 a year ago, on higher revenue of $11.6 billion versus $11.2 billion a year ago.

The New York Times hosts an investor day at its headquarters in New York.

Morgan Stanley kicks off a two-day US Financials, Payments & CRE conference. Participants include Ally Financial , Comerica, and Synchrony .

Tuesday 6/14

NextEra Energy and NextEra Energy Partners host an investor conference in New York.

The Bureau of Labor Statistics reports the producer price index for May. Consensus estimate is for a 10.8% year-over-year jump, after an 11% spike in April. The core PPI, which excludes volatile food and energy prices, is expected to rise 8.7%, compared with an 8.8% gain previously.

Wednesday 6/15

The Federal Open Market Committee concludes its two-day session. The Federal Reserve is widely expected to raise its benchmark interest rate by 50 basis points.

John Wiley & Sons holds its fourth-quarter earnings conference call.

The National Association of Home Builders releases the NAHB/Wells Fargo Housing Market Index for June. Economists are looking for a 68 reading, compared with a reading of 69 in May.

The Census Bureau reports retail-sales data for May. Expectations are for a 0.15% seasonally adjusted monthly increase, after a 0.9% rise in April. Excluding autos, retail sales are seen rising 0.7% compared with a 0.6% rise in April.

The BLS releases its Export Price index, which is believed to have risen 0.8% in May from a 0.6% in April. Import prices are expected to rise 1.1% in May compared with being flat in April.

A Food and Drug Administration panel reviews data and will recommend whether Pfizer and Moderna ’s Covid-19 vaccines for children under 5 should receive authorization.

Thursday 6/16

Kroger, Jabil, and Adobe host quarterly earnings conference calls with investors.

The Census Bureau releases new residential construction data for May. Consensus estimate is for a seasonally adjusted annual rate of 1.720 million housing starts, compared with 1.724 housing starts in April.

Friday 6/17

The Conference Board releases its Leading Economic Index for May. Economists forecast a 0.35% monthly decrease, following a 0.3% drop in April.

Keurig Dr. Pepper and ON Semiconductor are set to join the S&P 500 index after the close of trading.

Write to Nicholas Jasinski at nicholas.jasinski@barrons.com

Source: barrons.com

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Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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