Three Things to Watch
- The markets head into a holiday-shortened week with the focus on the U.S. Federal Reserve’s (Fed’s) June meeting. New Fed Chairman Kevin Warsh will hold his first press conference after the announcement Wednesday at 1:15 CT. His comments and the press release will be closely parsed for clues on his thoughts on monetary policy, with inflation moving higher and the markets having reversed from forecasting interest rate cuts and now looking for an increase this calendar year.
- Retail sales will be out on Wednesday along with housing starts on Tuesday and leading indicators on Thursday. The data continues to indicate that the U.S. economy has positive momentum and to date has weathered the higher energy prices relatively well.
- The markets will be closed on Friday for the Juneteenth holiday.
Three Things to Know
- This year will be the sixth year that Juneteenth is observed as a federal holiday. It was established as a federal holiday under President Joe Biden in 2021. (Source: AOL)
- On that 14th of June, Congress made the Flag Resolution of 1777, stating: “The flag of the United States shall be thirteen stripes, alternate red and white, with a union of thirteen stars of white on a blue field …”. Flag Day has been celebrated as a patriotic occasion for many decades, but President Woodrow Wilson made the observance official on May 30, 1916, by a presidential proclamation. (Source: The Farmer’s Almanac)
- SpaceX sold 555 million shares in its IPO and traded over 520 million shares its first day as a public company. (Source: Bloomberg)
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