Final Week of Q2 to Feature Fed's Preferred Inflation Measure

In the final trading week of the month, quarter, and first half of 2024, investors will focus on key inflation data and select corporate earnings. The Personal Consumption Expenditures (PCE) price index, the Fed’s preferred inflation measure, is expected to show a 0.1% rise in core prices for May, marking the slowest monthly increase since last November. Annual core PCE inflation is projected to be 2.6%, the lowest since March 2021. Earlier CPI data indicated cooling inflation, reinforcing expectations of a Fed rate cut later this year. Earnings reports from FedEx, Micron, and Nike will also be key highlights.