US inflation, Apple announcements and SpaceX IPO: what to watch out for this week for investors

After an unexpectedly strong report on the U.S. labor market, which caused a sell-off in the stock market, investors will again focus on the second part of the Fed's mandate - the fight against inflation, writes Yahoo Finance. The surge in new jobs has forced traders to revise interest rate expectations: they are now pricing in a high probability of a hike this year. And the main question is whether the data on price growth will confirm this forecast.

Against this background, an important event will be the meeting of the European Central Bank. Investors have little doubt that it will raise the key rate.

The market's attention will be on the most talked about, Elon Musk's record-breaking SpaceX IPO. The space giant's shares are scheduled to begin trading on the Nasdaq on Friday.

Apple's annual Wemir Developer Conference will kick off on Monday, June 8 , running through June 12 and marking Tim Cook's last as CEO. The event is expected to mark the relaunch of Apple's AI strategy, which has so far lagged behind competitors. The company is expected to unveil the long-awaited version of Siri voice assistant with integrated artificial intelligence features, Yahoo Finance writes.

Financial results will be announced Monday by neobank Wise, food manufacturer Campbell's, ski resort operator Vail Resorts and hydrogen fuel cell technology developer FuelCell Energy.

On Tuesday, June 9, the U.S. National Federation of Independent Business will release its Small Business Optimism Index for May. And the National Association of Realtors will release data on home sales in the secondary market.

Academy Sports and Outdoors, convenience store chain Casey's General Stores, food manufacturer J.M. Smucker, cybersecurity developer SailPoint and mining company Uranium Energy will release quarterly reports.

Wednesday, June 10, will see the release of the week's top macroeconomic report, the U.S. Consumer Price Index (CPI) for May. Wall Street forecasts suggest an acceleration of growth from April's 3.8% to 4.2% in annualized terms, Barron's notes . Core inflation, which excludes food and energy costs, is estimated to reach 2.9%. Investors will be watching closely to see if rising energy prices caused by the Iran crisis begin to have a broader impact on the economy. New signs of sustained inflationary pressures could reinforce expectations of further Fed rate hikes, according to Yahoo Finance.

Also on Wednesday, Oracle, which supplies cloud capacity to technology giants, will present its quarterly results. The company's report will be one of the main tests for the artificial intelligence investment theme, the publication notes. It will reflect the state of the AI market and the stability of demand for cloud services.

Water equipment supplier Core & Main, online pet supplies retailer Chewy, travel management platform developer Navan and women's apparel maker J.Jill will report.

On Thursday, June 11, the European Central Bank will announce its monetary policy decision. The market almost unanimously expects an increase in the key short-term rate from 2% to 2.25%, notes Barron's, so the focus will be on the regulator's forecasts for inflation and the future trajectory.

The U.S. Bureau of Labor Statistics will release the Producer Price Index (PPI) for Ma. The consensus forecast calls for a 6.4% year-on-year increase versus 6% a month earlier. The core figure is expected to accelerate to 5.4% from 5.2%, Barron's reports.

At the center of the corporate calendar are reports from software developer Adobe, one of America's largest real estate developers Lennar, designer furniture retailer RH and educational publisher McGraw Hill.

Also on Thursday, SpaceX's IPO is expected to receive its final pricing. It previously said it intends to float shares at $135 per paper. At this price, the size of the listing will be about $75 billion, the value of the company will exceed $1.75 trillion, and Elon Musk will be one step away from the status of the world's first trillionaire.

SpaceX stock is scheduled to begin trading on the Nasdaq exchange on Friday, June 12.

In addition, on this day, the University of Michigan will publish the June index of consumer sentiment. After a record low value in May - 44.8 points - economists forecast its growth to 46 points, indicates Yahoo Finance. No less important will be data on inflation expectations of American consumers for the coming year. In May, they reached 4.8%.

This article was AI-translated and verified by a human editor