Key Events This Week:
1. May Industrial Production data - Monday
2. May Housing Starts data - Tuesday
3. May Retail Sales data - Wednesday
4. Fed Interest Rate Decision and Kevin Warsh's First Meeting as Fed Chair - Wednesday
5. June Philly Fed Manufacturing Index - Thursday
6. US Markets Closed for Juneteenth - Friday
All eyes are on the Fed this week.
BREAKING: The US economy adds 172,000 jobs in May, crushing expectations of 85,000.
The unemployment rate was 4.3%, in-line with expectations of 4.3%.
April's jobs number was also revised UP by +64,000 jobs.
This marks the second strongest US jobs report in 13 months.
BREAKING: President Trump says an agreement with Iran has been “largely negotiated” and will be announced shortly.
Trump says the Strait of Hormuz will be reopened under the agreement.
SUMMARY OF FED CHAIR POWELL'S STATEMENT:
1. Near-term US inflation expectations have risen
2. The Fed sees US PCE inflation at 3.5% in March 2026
3. Higher energy prices will "push up" near-term inflation
4. Middle East situation is contributing to uncertainty
5. Current Fed policy stance is "appropriate"
6. Powell will remain on the Fed board as Governor after May 15th
A new era of Fed policy is ahead of us.
Key Events This Week:
1. US Markets React to Cancellation of US-Iran Talks - 6 PM ET Today
2. April Consumer Confidence data - Tuesday
3. April Fed Interest Rate Decision and Statement - Wednesday
4. Microsoft, Amazon, Meta, Google Report Earnings - Wednesday
5. Apple Reports Earnings - Thursday
6. US Q1 2026 GDP Data - Thursday
7. March PCE Inflation data - Thursday
8. ~20% of S&P 500 companies report earnings this week
Buckle up for a highly eventful week ahead.
The death of Ayatollah Khamenei brings justice for the Iranian people after decades of rule under this repressive, theocratic, tyrannical dictatorship.
This evil man murdered his own people, denied them their basic freedoms, and fuelled terror and violence around the world.
Canada will always stand with the people of Iran as they seek a future defined by democracy, freedom, and peace.
"Khamenei, one of the most evil people in History, is dead. This is not only Justice for the people of Iran, but for all Great Americans, and those people from many Countries throughout the World, that have been killed or mutilated by Khamenei..." - President Donald J. Trump