With stocks set to close out a strong first half of 2024, investors have just one more key inflation hurdle to clear in the week ahead: May's personal expenditure report. Stocks have defied all expectations at the midpoint of the year. While many investors came into 2024 anticipating limited gains for equities, an artificial intelligence-fueled rally — as well as signs of easing inflation — have bolstered stocks toward fresh highs.
mountain Nvidia Many investors think stocks could see even more gains the year higher even with that considerable advance, citing a spate of recent macroeconomic data suggesting a strong fundamental backdrop for equities. "On balance, we are seeing the trend toward slower inflation, but at a gradual pace, and that's Goldilocks," said Terry Sandven, chief equity strategist at U.S. Bank Asset Management.
Home Price Index 9 a.m. S & P/Case-Shiller comp.20 Home Price Index 10 a.m. Consumer Confidence 10 a.m. Richmond Fed Index Earnings: FedEx , Carnival Wednesday June 26 8 a.m. Building Permits final 10 a.m. New Home Sales Earnings: Micron Technology , General Mills Thursday June 27 8:30 a.m. Durable Orders preliminary 8:30 a.m. GDP final 8:30 a.m. Initial Claims 8:30 a.m. Wholesale Inventories 10 a.m. Pending Home Sales Index 11 a.m.