Author: Zac Martin, Senior Investment Associate
Week Ending June 12th – We Have Liftoff
Another volatile trading week, with the Vix moving to just above $23 at its peak. The market did end the week with a positive return as news of a peace deal with Iran appeared likely and the highly anticipated IPO of SpaceX occurred on Friday. SpaceX’s market debut achieved several records with the creation of the first trillionaire, the largest IPO valuation and after Friday it is the sixth most valuable company in the world with a $2.1T valuation.
Inflation Update: Both the Consumer Price Index and the Producer Price Index have continued to accelerate, with the May report reaccelerating to 4.2% and 6.5%, respectively. While headline inflation numbers have been accelerating at an increased rate there are two components that are driving these increases, energy prices and shelter prices, increasing on a year-over-year basis by 23.5% and 4.8%, respectively.
The Week Ahead:
- FOMC Meeting & Economic Projections (6/17)
- Leading Economic Indicators (6/18)
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