Monday Morning Meeting Notes (06/12/2023)

General Info:

• Fun Fact: The Spanish national anthem has no words. The 'Marcha Real' is one of only four national anthems in the world (Bosnia and Herzegovina, Kosovo, and San Marino) to have no official lyrics

Monday 06/12:

• Oracle reports earnings
• Japan producer price index (PPI)

Tuesday 06/13:

• U.S. consumer price index (CPI) for May
• CPI is expected to have increased 0.2% month-over-month and 4.1% year-over-year
• Core CPI, which excludes volatile food and energy prices, is expected to have increased 0.4% month-over-month and 5.2% year-over-year
• U.S. NFIB Small Business Optimism Index for May
• U.K. jobless claims and unemployment data

Wednesday 06/14:

• Lennar Corp and RF Industries report earnings
• Federal Reserve (Fed) monetary policy decision, followed by Chair Jerome Powell’s press conference
• Market participants expect a pause in the Fed’s rate hikes
• U.S. PPI data for May
• The Eurozone and the U.K. report industrial production

Thursday 06/15:

• Adobe and Kroger report earnings
• U.S. retail sales for May
• U.S. initial jobless claims and continuing claims data
• European Central Bank (ECB) monetary policy decision, followed by ECB President Christine Lagarde’s press conference
• The ECB is expected to hike rates by 0.25%, bringing its main refinancing rate to 4.00%
• China reports property prices, retail sales, and industrial production

Friday 06/16:

• National Fudge Day
• Bank of Japan (BOJ) monetary policy decision
• Eurozone CPI data for May
• U.S. University of Michigan consumer sentiment index (preliminary June reading)