Markets in a Minute - Change In Progress

Insights | Markets in a Minute - Change In Progress

Author: Zac Martin, Investment Associate

Week Ending June 14th – Change In Progress

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  • 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).

HORAN Capital Advisors, LLC is an SEC registered investment advisor. The information herein has been obtained from sources believed to be reliable but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results. Market conditions can vary widely over time and there is always the potential of losing money when investing in securities. HCA and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only and is not intended to provide and should not be relied on for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.