What’s on the US economic calendar in the week ahead: June 13-17 It’s Fed week

It’s all about the FOMC in the week ahead as the murmurs begin of a 75 basis point hike, or even more. The baseline and the Fed communication has all suggested a 50 bps hike but with Friday’s CPI report coming in hotter-than-expected, the conversation changed.


Nothing notable




Import/export prices

May retail sales

Business inventories

NAHB housing market index

Weekly oil inventories

FOMC decision


Housing starts

Weekly jobless claims

Philly Fed


Industrial production

Major indices have their worst week since January. NASDAQ index tumbles -5.6%

The stronger than expected CPI reversed premarket stock gains and pushed the major  indices  lower. A weaker Michigan consumer sentiment didn’t help with the overall sentiment.

  • The weekly percentage declines in the Dow, S&P, and  NASDAQ  weeks was the worst since January 21
  • Major indices closed near lows for the day
  • Dow Jones is down 10 of the last 11 weeks
  • NASDAQ and S&P is down 9 of the last 10 weeks
  • All 11 S&P sectors were lower. The worst sector was consumer discretionary which fell over -4.1%. Technology fell -3.9%, Financials fell -3.65%. Consumer staples was the best performer at -0.38%

The final numbers for the day are showing:

  • Dow industrial average fell -880.02 points or -2.73% at 31392.80
  • S&P index fell -116.96 points or -2.91% at 3900.85
  • NASDAQ index fell -414.19 points or -3.52% at 11340.03
  • Russell 2000 fell -50.57 points or -2.73% at 1800.28

For the trading week:

  • Dow fell -4.58%
  • S&P index fell -5.08%
  • NASDAQ index fell -5.6%
  • Russell 2000 fell -4.41%

Looking at the Dow 30, the worst performers were:

  • Dow, -6.06% -6.06%
  • Goldman Sachs -5.48%
  • Boeing, -5.05%
  • J.P. Morgan, -4.65%
  • Salesforce, -4.6%

The only winning stock in the Dow was Walmart with a gain of +0.63%. The best of the worst showed:

  • Verizon fell -0.16%
  • Procter & Gamble fell -0.36%
  • Walgreens boots fell -0.43%
  • Coca-Cola fell -0.58%

After the close Tesla has proposed a 3 for1 stock split. The stock closed at $696.69. In after-hours trading it is trading up to $716.23.

Amazon shares went through their 20 for 1 stock split this week. For the week after a rise on Monday, the shares are ending the week down -10.38%.

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