Wall Street investors in the week ahead will be eyeing the US Federal Reserve preferred inflation gauge – PCE, and the personal income and spending data.
Among the other crucial data, the second revised estimate of first quarter GDP (gross domestic product) growth and May home sales numbers are due in the week ahead.
The week’s earnings calendar will see few big companies such as Nike, Micron Technology, Carnival, FedEx, and General Mills.
Economic events
On June 25 (Tuesday), a report on consumer confidence for May will be released.
On June 26 (Wednesday), data on new home sales for May will be declared.
June 27 (Thursday) will see the release of second revised estimate of the Q1 GDP and durable-goods orders data for May.
On June 28 (Friday), data on personal income and spending (both nominal) for May, PCE (personal consumption expenditures) index for May, and consumer sentiment (final) for June will be released.
Earnings
Following companies are due to report quarterly earnings in the week ahead— Beyond Air, Baker Hughes, Carnival, FedEx, General Mills, Paychex, Levi Strauss, Micron Technology, AeroVironment, Nike, McCormick, Walgreens Boots Alliance, and Acuity Brands.
US markets last week
US stocks closed mixed on Friday. The Dow Jones Industrial Average rose 15.57 points, or 0.04 per cent, to 39,150.33, the S&P 500 declined 8.55 points, or 0.16 per cent, to 5,464.62 and the Nasdaq Composite fell
32.23 points, or 0.18 per cent, to 17,689.36.
The yield on the 10-year Treasury edged lower to 4.25 per cent from 4.26 per cent. The yield on the 2-year Treasury dipped to 4.73 per cent from 4.74 per cent.
The US dollar surged to 159.58 Japanese yen from 158.82. The euro dropped to $1.0695 from $1.0711.
Brent crude for August delivery shed 47 cents to $85.24 per barrel on Friday. The US crude oil benchmark for August delivery slipped 56 cents to $80.73 per barrel.
Gold for August delivery declined $37.80 to $2,331.20 per ounce. Silver for July delivery lost $1.21 to $29.61 per ounce.
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Published: 23 Jun 2024, 09:14 PM IST