A number of general economic data will be released this week, and the May personal consumption expenditures (PCE) index released on Friday will receive special attention because it is the Fed’s preferred inflation indicator - $Direxion Daily S&P 500 Bull 3X(SPXL)$ $Direxion Daily S&P 500 Bear 3X Shares(SPXS)$ $Direxion Daily S&P 500 Bull 2X Shares(SPUU)$ $Direxion Daily S&P 500 Bear 1x Shares(SPDN)$ $Direxion Daily S&P 500 High Beta Bull 3X Shares(HIBL)$ $Direxion Daily S&P 500 High Beta Bear 3X Shares(HIBS)$
Core PCE slowed in April and real personal consumption expenditures shrank, supporting the Fed's plan to cut interest rates this year. Traders currently see a 65% chance of a rate cut by the Fed in September, according to data from CME Group's FedWatch tool. However, some analysts believe that the market has already priced in the results of the May report. The Fed may still need a bright PCE inflation data to push forward the interest rate cut in September, otherwise it will still maintain a "wait-and-see" attitude - $Direxion Daily 20 Year Plus Treasury Bull 3x Shares(TMF)$ $Direxion Daily 20 Year Plus Treasury Bear 3x Shares(TMV)$ $Direxion Daily 7-10 Year Treasury Bull 3X Shares(TYD)$ $Direxion Daily 7-10 Year Treasury Bear 3X Shares(TYO)$
American memory chip maker Micron will announce its latest quarterly earnings after the U.S. stock market closes on Wednesday. Micron's quarterly results are closely watched as they reflect the impact of the artificial intelligence (AI) boom on tech giants like $Micron Technology(MU)$ - $Direxion Daily Semiconductors Bull 3x Shares(SOXL)$ , $Direxion Daily Semiconductors Bear 3x Shares(SOXS)$
Markets will get updates on the artificial intelligence market this week, with Nvidia (NVDA) holding its annual shareholder meeting, Micron Technology (MU) reporting earnings and Salesforce (CRM) holding shareholder meetings - $Direxion Daily AI and Big Data Bull 2X Shares(AIBU)$ $Direxion Daily AI and Big Data Bear 2X Shares(AIBD)$
Transportation giant FedEx will report earnings on Tuesday after announcing a $5 billion stock buyback program in its last quarterly report - $Direxion Daily Transportation Bull 3X Shares(TPOR)$
Shoemaker Nike, which will report earnings on Thursday, is gearing up for a marketing campaign ahead of the upcoming Summer Olympics despite weak guidance from last quarter - $Daily Consumer Discretionary Bull 3X(WANT)$
Crude oil traders should keep an eye on incoming economic data and geopolitical events this week for further direction; Citi expects oil prices to fall into the $70/barrel range later this year and further into the $70/barrel range in 2025 The $60 range is due to a steady increase in inventories. Citi has the most bearish view on oil prices and demand in the near and long term. Most Wall Street banks expect oil prices to remain above $80 a barrel this summer and fall into the $70 range in the fourth quarter and early next year - $Direxion Daily Energy Bull 2x Shares(ERX)$ $Direxion Daily Energy Bear 2x Shares(ERY)$ $Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares(GUSH)$ $Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares(DRIP)$
The focus for gold prices in the week ahead will be Friday's release of the personal consumption expenditures (PCE) index, the Federal Reserve's preferred inflation gauge. From a technical perspective, FXStreet analysts note that Friday’s decline in gold prices stalled at two-week-old rising trendline support, currently around $2,312 an ounce, which should now be a key level - $Direxion Daily Gold Miners Index Bull 2X Shares(NUGT)$ , $Direxion Daily Gold Miners Index Bear 2X Shares(DUST)$ $Direxion Daily Junior Gold Miners Index Bull 2X Shares(JNUG)$ $Direxion Daily Junior Gold Miners Index Bear 2X Shares(JDST)$
Profit forecasts for China's main indicators have been cut this year by the most in Asia as a deepening slump in the property market and weak retail sales hurt confidence, with the country's stock market losing momentum after peaking in mid-May. As the recovery slows, foreign investors are selling off stocks again. As of last Thursday, overseas investors had sold off domestic stocks for nine consecutive days, with the amount of sales exceeding US$5 billion. This was the longest divestment since August 2023 - $Direxion Daily FTSE China Bull 3X Shares(YINN)$ $Direxion Daily FTSE China Bear 3X Shares(YANG)$
Direxion ETFs volatility, capital flow and trading volume analysis
Direxion ETFs volatility, capital flow and trading volume analysis
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