By Dan Lam
Equities sold off sharply this past Friday, as a strong jobs report pushed up bond yields and forced investors to grapple with the prospects of interest-rate hikes this year.
The tech-heavy Nasdaq Composite fell 4.7% on the week, the most among the three major indexes. The S&P 500 snapped its nine-week winning streak, declining 2.6%. The Dow Jones Industrial Average fell only 0.3% for the week, as there was some rotation out of semiconductor stocks after a blistering rally into the healthcare and energy sectors.
With the labor seemingly on solid footing now, Wall Street turns its attention to the other side of the Federal Open Market Committee's dual mandate: price stability.
The Bureau of Labor Statistics will release the consumer price index on Wednesday and the producer price index on Thursday. Both inflation measures are running at multi-year highs, and the core CPI hasn't been at or below the Federal Reserve's two percent target in more than five years.
This week also brings perhaps the most anticipated initial public offering in history: SpaceX . SpaceX is expected to price its IPO on Thursday and begin trading on Friday. The company plans to raise $75 billion, more than double the current record held by Saudi Aramco's IPO from early 2020.
Six S&P 500 index companies report results this week, among them Oracle on Wednesday and Adobe on Thursday.
Monday 6/8
Campbell's and Vail Resorts release earnings.
Tuesday 6/9
Academy Sports and Outdoors, Casey's General Stores, J.M. Smucker, and SailPoint report quarterly results.
The National Federation of Independent Business releases its Small Business Optimism Index for May. Economists forecast a 96.1 reading, little changed from the April figure.
The National Association of Realtors reports existing-home sales for May. The consensus estimate calls for a seasonally adjusted annual rate of 4.06 million homes sold, slightly more than in April.
Wednesday 6/10
Chewy and Oracle announce earnings.
The Bureau of Labor Statistics releases the consumer price index for May. Economists forecast a 4.2% year-over-year jump, four-tenths of a percentage point more than in April. The core CPI, which strips out volatile food and energy prices, is expected to increase 2.9% year-over-year compared with 2.8% previously. Headline inflation is running at its hottest since May 2023.
Thursday 6/11
Adobe and Lennar report quarterly results.
The BLS releases the producer price index for May. The consensus calls are for a 6.4% annualized increase in the PPI and a 5.4% rise in the core PPI. This compares with gains of 6% and 5.2%, respectively, in April.
The European Central Bank announces its monetary-policy decision. The ECB is widely expected to raise its key short-term interest rate from 2% to 2.25%.
SpaceX is expected to price its initial public offering at $135 a share on Thursday, raising $75 billion, and valuing the company at about $1.8 trillion. Shares of SpaceX would then begin trading on the Nasdaq exchange on Friday.
Friday 6/12
The University of Michigan releases its consumer sentiment survey for June. The consensus call is for a 46 reading, which would be about one point more than May's record-low reading. In May, consumers' expectations of the year ahead inflation was 4.8%, and 3.9% for longer-run inflation.
Write to Dan Lam at dan.lam@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
June 07, 2026 14:00 ET (18:00 GMT)
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