New York Stock Market Rallies Led by Tech Stocks; PCE Price Index Due on the 25th

Micron Technology is scheduled to release its earnings on the 24th, followed by the release of the Personal Consumption Expenditures (PCE) price index for May on the 25th.

The final estimate for U.S. GDP growth for the first quarter will also be released on the same day.

While the U.S. stock market was closed last Friday for the Juneteenth holiday, the market showed strength led by tech stocks throughout the previous week.

The market's primary focus this week is the May PCE price index, which the U.S. Department of Commerce will release on the 25th.

As this is the inflation indicator most trusted by the Federal Reserve in its monetary policy decision-making process, investors are expected to react more sensitively to changes in the figures, especially given recent remarks by Fed Chair Kevin Warsh emphasizing price stability and the upward adjustment of inflation forecasts for this year by Fed officials.

The final U.S. first-quarter GDP growth rate will also be announced on the same day, along with the S&P Global Purchasing Managers' Index (PMI) preliminary data on the 23rd and the U.S. consumer sentiment index on the 26th.

The progress of working-level negotiations between the U.S. and Iran amid geopolitical risks is also a key variable.

With the support of mediators Pakistan and Qatar, the two countries held their first follow-up talks in Switzerland, but the meeting was adjourned after 80 minutes without any significant results.

Earnings reports from major companies are also set to follow.

On the 24th, Micron Technology will release its third-quarter earnings, which will provide insight into global AI market demand, while Carnival Corporation and FedEx will report their earnings on the 23rd.

This week, the New York stock market is expected to reach a turning point that will determine the future direction of monetary policy, as major economic indicators, corporate earnings, and the results of geopolitical negotiations converge.
※ Please note: This article was translated by AI and may contain errors.