Starting Monday, June 9, it could be another action-packed week for the markets. Apple’s WWDC event, US CPI and PPI data, Nvidia’s presentations, and the US-China trade talks are the highlights for this week.
Apple’s CEO, Tim Cook, will deliver a keynote at the Worldwide Developers Conference (WWDC), discussing new products, services, and partnerships, on Monday. WWDC event starts at 10.30 pm IST, 1 p.m. ET, 10 a.m. PT. One can tune in at apple.com or on the Apple TV app to watch the WWDC event live.
Apple is expected to unveil several changes at this year’s developer conference, including the release of iOS 26 and the expansion of its gaming capabilities.
Apple stock is down nearly 20% YTD as investors are likely concerned about tariff uncertainty and the company’s slow progress in AI. It remains to be seen if WWDC 2024 will change the fortunes of Apple shareholders.
This week, Nvidia will also be in focus as the company will hold two presentations. The first is on June 10, at the Nasdaq Investor Conference in partnership with Jefferies at 1:00 a.m. PT, and another at the Rosenblatt’s 5th Annual Technology Summit: The Age of AI at 7:00 a.m. PT. All presentations will be accessible via live audio webcast on investor.nvidia.com, with replays available for 90 days after the events.
GameStop, a video game retailer, reports earnings on Tuesday and may clarify its cryptocurrency strategy. GameStop has reported a $500 million bitcoin purchase in May, following its meteoric rise in 2021. The company is aiming to emulate Michael Saylor’s Strategy and other companies that focus on buying bitcoin to boost its retail video game business.
A U.S. inflation report on Wednesday could indicate if Trump’s tariffs are impacting the economy, following a healthy jobs report on Friday. The Consumer Price Index (CPI) release on Wednesday could set the tone for the Federal Reserve, as it faces pressure from Trump to lower interest rates. US CPI data for May will be released on Wednesday, June 11.
Producer Price Index May data will be published on Thursday. The consumer sentiment report on Friday will focus on Trump’s tariffs, which have dropped for four months and reached its lowest readings since the pandemic. As inflation has been stable, the sentiment drop may have reached its lowest point.
Markets last week rebounded from trade tensions, bringing the S&P 500 above 6000. Investors will monitor tariffs as Trump’s trade deal deadline approaches next month. The Senate will be busy working on Trump’s “Big, Beautiful” budget bill amid criticism from Elon Musk.
US and Chinese officials are set to hold trade talks in London today, following a phone call with Chinese President Xi Jinping last week.
Last week, the Dow, S&P 500, and Nasdaq Composite all experienced a second consecutive winning run, with a 1.17% increase, 1.5% gain, and 2.18% increase, respectively.