Author: Zac Martin, Investment Associate
Week Ending June 14th – Change In Progress
- Consumer Price Index for May came in lighter than analysts expected. While energy prices have fallen, housing remains sticky at a 0.4% monthly increase.
- The Fed held interest rates steady, as expected for the June FOMC meeting. Fed Chair Jerome Powell mentioned there has been a “modest further progress” toward the Fed’s inflation target. Consequently, the Fed is projecting 25bp of cuts this year vs. 75bp previously. (Fed Projections & CME FedWatch)
- Producer Price Index for May continued to highlight further disinflation, as results came in 0.3% under analyst expectations. Year over year change was 2.2%.
- Corporate: Apple recently announced its new line-up of Ai products to be released with iOS 18. Broadcom, Oracle and Adobe all reported above expectations, attributing most of their respective gains to Ai driven demand. Oracle and Broadcom continue to benefit from the implementation of Ai into the workplace.
The week ahead:
- Retail Sales (6/18)
- NAHB Housing Market Index (6/19)
- Leading Indicators (6/21)
- Earnings: LEN (6/17), ACN, DRI, KR (6/20).
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