FedEx, Micron Earnings and PCE Data Set to Shape Markets This Week
Three catalysts are converging this week that might shift sentiment throughout equities, chips, and the inflation outlook. FedEx earnings, Micron’s fiscal Q3 outcomes, and the May Personal Consumption Expenditures value index are all due within the coming days.
The mixture arrives at a tense second for markets nonetheless digesting the Iran warfare’s financial fallout and reassessing when the Federal Reserve would possibly subsequent transfer on rates of interest.
FedEx Breaks New Ground Tuesday
FedEx (FDX) reports fiscal fourth-quarter outcomes Tuesday, June 23. The print marks the corporate’s first as a pure-play logistics and parcel agency following the June 1 spinoff of FedEx Freight.
A calendar shift to a December fiscal yr provides one other layer of complexity, making year-over-year comparisons tough. Analysts expect revenue for the quarter to attain $24.04 billion, up 8.8% from a yr earlier, whereas full-year earnings per share are projected at $19.78, up 8.7% from fiscal 2025.
Micron Carries the AI Trade Wednesday
Micron Technology (MU) reports fiscal Q3 outcomes Wednesday, June 24. After a roughly 280% gain in 2026 constructed virtually fully on the high-bandwidth reminiscence that feeds AI accelerators, the print is the one clearest check of whether or not that growth is a sturdy, structural shift or one other reminiscence cycle that has run forward of itself.
Analysts at Deutsche Bank and TD Cowen each raised value targets to $1,500 forward of the Micron earnings results, citing AI demand outrunning provide by means of 2028. Key prospects stay ready to secure solely between 50% and two-thirds of their bit demand necessities, with no expectation of provide catching up within the close to time period.
PCE Data Thursday Tests the Oil Relief Narrative
The Federal Reserve’s most well-liked inflation gauge, the PCE value index for May, drops Thursday, June 25. Research from the Federal Reserve Bank of Dallas estimates the Iran warfare pushed headline PCE inflation up 1.7 proportion factors at an annualized fee within the first quarter of 2026, with results anticipated to stay elevated by means of the third quarter.
However, WTI crude settling close to $76 a barrel final week, down sharply from above $90 all through May, may present significant aid within the months forward. Whether the chipflation risk from rising AI reminiscence prices offsets a few of that energy-driven easing stays an open query heading into the info.
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