Fed, U.S.-North Korea Meeting to Dominate Headlines Next Week

Fed Chair Jerome Powell will speak after the Fed's policy decision

Managing Editor
Jun 7, 2018 at 1:15 PM
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Two notable meetings will happen next week, which could determine stocks' short-term trajectory. As of now, President Donald Trump is slated to meet with North Korean leader Kim Jong Un on Tuesday, June 12, in Singapore -- which will be an unprecedented event, assuming it's not canceled again. Back at home, the Federal Open Market Committee's (FOMC) two-day policy meeting will conclude on Wednesday, June 13, and fed funds futures are pricing in a very high chance of the second Fed rate hike of 2018. In addition, Fed Chair Jerome Powell will give a press conference following the announcement, which could provide clues about future policy decisions.

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

On Monday, June 11, economic data is light, and only Dave & Busters (PLAY) is scheduled to report earnings. 

The U.S.-North Korea meeting will likely dominate headlines on Tuesday, June 12, and the two-day FOMC meeting will also kick off. In addition, traders will digest the consumer price index (CPI), the NFIB small business optimism index, and the Treasury budget. Casey's General Stores (CASY) and H&R Block (HRB) are scheduled to unveil quarterly reports.

Wednesday, June 13, will mark the conclusion of the Fed meeting, capped off by the much-awaited 2 p.m. ET FOMC policy announcement, and a follow-up press conference from Fed Chair Jerome Powell. There will also be a fresh read on the producer price index (PPI), the MBA mortgage index, and the weekly crude inventories report. Tailored Brands (TLRD) will report earnings.

Thursday, June 14, features weekly jobless claims, retail sales, import and export data, and the Fed's balance sheet. Adobe Systems (ADBE), Finisar (FNSR), and Jabil (JBL) report earnings. 

"Quadruple witching" Friday, June 15, will feature the Empire State manufacturing survey, data on industrial production, and the University of Michigan's consumer sentiment index. There will also be Treasury International Capital data, as well as the Baker-Hughes weekly rig count. There are no earnings of note.

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