What to Expect in Markets This Week: A Post-Fed Inflation…

The article discusses current economic trends and stock market insights, focusing on the upcoming release of the Personal Consumption Expenditures (PCE) price index, which is crucial for gauging inflation. Major U.S. stock indexes concluded the week positively despite potential interest rate hikes by the Fed. Key events this week include earnings reports from companies like Micron Technology and FedEx, as well as market responses to geopolitical changes involving the U.S. and Iran. Additional insights into sectors such as AI and gas prices dropping below $4 are also highlighted.

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Hand holding a smartphone displaying the Micron logo with a Micron presentation on a screen in the background

Micron Technology is slated to share quarterly results this week. CFOTO / Future Publishing via Getty Images

Economists will update the Fed's preferred inflation index this week, giving investors a chance to see how the latest reading squares with the newly hawkish central bank.1

The May output of the Personal Consumption Expenditures price index is due Thursday. The Fed sees the PCE as a more precise measure of price changes because it uses surveys of businesses, rather than consumers, to weigh a broader set of data. The PCE price index rose 3.8% year-over-year in April—well above the 2% target, and the largest increase in three years.

It'll be the first major bit of inflation data since Fed officials last week indicated that they envision lifting the central bank's benchmark rate by a median of a quarter-percentage-point before 2027. Officials haven't adjusted the federal funds rate since December . Raising the rate is the main way the Fed fights inflation; by ushering in higher interest rates, it can slow spending and temper price growth.

Investors may pay more attention to the PCE and other economic indicators, now that the head of the Fed wants it to say less about forecasts.

This week may also provide insight on the state of the AI play. Memory-chip maker Micron Technology—whose products are used in AI data centers—will release results Wednesday.2 Micron shares have vaulted higher with investors convinced that the AI buildout will fuel demand: Micron's market capitalization has hit $1 trillion, and its shares are up more than 800 % this year through last week's close.

Market Recap

The major U.S. stock indexes finished the week higher, despite lagging Wednesday when the Fed signaled a rate hike may be coming, as optimism about a U.S.-Iran reconciliation lifted investors' mood and increased the possibility that regular flows of ships and goods through the Strait of Hormuz might be restored. The S&P 500, Nasdaq Composite and Dow Jones Industrial Average all logged gains Thursday, the final trading day of a holiday-shortened week. For more, read our market round-up here.

This Week's Top Events

Here's a look at major events in the week ahead. TradingView publishes a more detailed calendar, but clicking the link will take you off the Investopedia site.

Tuesday, June 23: Carnival Corp. ( CCL) will hold a conference call on its second-quarter results at 10 a.m. ET, with results expected earlier that morning.3 The cruise operator reported record revenue in December and issued a bright outlook for the year ahead, though the U.S.-Iran conflict has pressured sector stocks by raising fuel prices.
Tuesday: FedEx Corp. ( FDX) is slated to host a conference call on its fiscal fourth-quarter results at 5 p.m. ET.4 The shipping giant beat expectations last quarter and raised its forecast; it has separated from its freight business, which has taken the name FedEx Freight ( FDFX) and is slated to report on Thursday.5
Wednesday, June 24: Micron Technology ( MU) plans to hold a conference call on its fiscal third-quarter results at 4:30 p.m. ET, with the numbers expected earlier in the afternoon. The memory and storage company performed better-than-expected last quarter. Micron is seeing strong demand, and has raised prices amid a shortage of memory components.
Thursday, June 25: BlackBerry ( BB) is set to release its fiscal first-quarter results and hold a conference call at 8 a.m. ET.6 Shares of the software company have popped in recent weeks, thanks to optimism over its growing partnership with Nvidia ( NVDA) and brisk demand for its QNX business, which is used in driver assistance programs. Shares have more than doubled in 2026.
Thursday: The Bureau of Economic Analysis is set to update the PCE price index at 8:30 a.m. The May reading may surpass the 3.8% year-over-year increase in April, based on updates from other cost-of-living and inflation-adjacent indexes.
Thursday: Darden Restaurants ( DRI) plans to release its fourth-quarter numbers before the opening bell, followed by a conference call at 8:30 a.m. ET. 7The company, which owns Olive Garden and LongHorn Steakhouse, has been wooing diners with deals like the “never ending pasta bowl.” Darden, like others in the industry, is serving a higher-earning clientele, as Americans adjust their habits to save money.

More Investopedia Reads

The SpaceX IPO has pushed attention to index funds, which may soon begin adding its shares, Crystal Kim reports. A study found AI tools tend to suggest riskier investments and tech-heavy portfolios, Trina Paul writes. Improved U.S.-Iran relations may revive investors' fervor for gold, Crystal Kim reports. Finally, here's Diccon Hyatt's report on what the Fed's latest decision could mean for your finances.

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Article Sources

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Bureau of Economic Analysis. " Release Schedule."
Micron Technology. " Micron Technology to Report Fiscal Third Quarter Results on June 24, 2026."
Carnival Corporation. " Second Quarter 2026 Earnings."
FedEx Corporation. " Upcoming Events."
FedEx Freight. " FedEx Freight to Report Fourth Quarter 2026 Earnings on June 25, 2026."
BlackBerry. " BlackBerry to Announce Fiscal First Quarter 2027 Results on June 25, 2026."
Darden Restaurants. " Darden Restaurants to Release Fiscal 2026 Fourth Quarter and Full Year Results on June 25, 2026."

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