Federal Reserve decision, Biden-Putin meet and inflation data top week ahead

H&R Block, La-Z-Boy, Oracle and Adobe are set to report earnings

The Federal Reserve's upcoming decision on interest rates and outlook on economic conditions, as well as new housing and retail sales data are all in focus for investors in the coming week. 

President Biden will also sit down with Russian President Vladimir Putin in a rare one-on-one meeting. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35040.3 -104.01 -0.30%
SP500 S&P 500 4399.28 -23.02 -0.52%
I:COMP NASDAQ COMPOSITE INDEX 14635.451247 -205.26 -1.38%

This as the S&P sits at a fresh record high after U.S. stocks ended a mixed week. 

FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days. 

Monday 6/14

Goldman Sachs and Credit Suisse plan to begin recalling their U.S. employees back to the office on Monday. These firms will likely set the early tone for post-pandemic in-office working. 

Ticker Security Last Change Change %
GS THE GOLDMAN SACHS GROUP, INC. 373.85 -2.12 -0.56%
CS CREDIT SUISSE GROUP AG 10.23 -0.05 -0.49%

Overseas, President Biden will meet with Turkish President Erdogan on the sidelines of the NATO summit in Brussels, where the pair is set to discuss negotiations and diplomacy in Afghanistan and other regional issues as well as the "significant differences on values and human rights" between Washington and Ankara, U.S. national security adviser Jake Sullivan said.

Tuesday 6/15

Investors will take in a slew of economic data, including the producer price index, retail sales, the Empire State manufacturing index, industrial production, and the National Association of Home Builders' housing market index. 

These reports will roll in as the two-day, policy-setting Federal Open Market Committee (FOMC) meeting begins. 

In earnings, H&R Block, La-Z-Boy, and Oracle report after the bell. 

Ticker Security Last Change Change %
HRB H&R BLOCK, INC. 24.55 +0.19 +0.78%
LZB LA-Z-BOY, INC. 33.69 +0.09 +0.27%
ORCL ORACLE CORP. 87.70 -0.18 -0.20%

President Biden's meetings with world leaders will continue on Tuesday with a summit hosted by the European Union in Brussels, where officials are expected to unveil a wide-ranging partnership around technology and trade in an attempt to push back against China. 

Theranos Inc. founder Elizabeth Holmes will also head back to court on Tuesday for pretrial motions related to mail fraud charges against her for allegedly deceiving investors, patients, and doctors about Theranos's blood-testing technology.

Elizabeth Holmes. (Nhat V. Meyer/Bay Area News Group via AP)

Holmes has pleaded not guilty and faces an August trial, following delays from the COVID-19 pandemic and news that she is due to give birth in July. 

Ticker Security Last Change Change %
DIS THE WALT DISNEY CO. 177.46 -1.18 -0.66%

Tuesday will also mark a big day for Disney as its California theme parks end temperature checks for guest entry and welcomes out-of-state visitors. The Disneyland Resort reopened to guests back in April, and unveiled the new Marvel-themed land, Avengers Campus, on June 4.         

Wednesday 6/16

On Wednesday, the FOMC's decision on interest rates will top the day's news. The 2 p.m. ET decision and live coverage of Federal Reserve chairman Jerome Powell's press conference will be covered live on FOXBusiness.com.  

(AP Photo/Susan Walsh, Pool, File)

AP Photo/Susan Walsh, Pool, File

Since the last meeting, several data points have suggested inflation is running hotter than officials would like. The Consumer Price Index rose 5% in May, the highest since 2008.

CONSUMER PRICES JUMP 5% MOST SINCE 2008

Investors will also take in building permits, housing starts, import and export prices, weekly mortgage applications, and the Energy Information Administration's weekly report on crude supplies. 

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 49.55 -0.13 -0.26%

INFLATION: OIL HITS HIGHEST SINCE 2018

This after oil registered its third weekly gain, hitting the highest level since 2018.

In earnings news, homebuilder Lennar and Jessica Alba's Honest Company are set to report earnings after the bell. The report from Honest Company marks its first since launching its initial public offering earlier this month. 

Ticker Security Last Change Change %
LEN LENNAR CORP. 102.56 +1.32 +1.30%
HNST THE HONEST COMPANY INC. 14.95 +0.23 +1.56%

President Biden will also meet with Russian President Vladimir Putin in Geneva, where the two men are expected to discuss Iran and North Korea's nuclear capabilities, Syria, the Arctic, strategic stability, arms control, climate change and COVID-19. 

AP Photo/Susan Walsh, Pool, File

Biden is expected to also raise the issue of Russian-based cyberattacks during the meeting, as the number of U.S. businesses falling victim to ransomware attacks continues to grow.

Ticker Security Last Change Change %
JPM JPMORGAN CHASE & CO. 152.23 +0.64 +0.42%

The Robinhood Foundation and JPMorgan Chase will also host the nonprofit's annual investors conference, with Bridgewater Associates CEO Ray Dalio, Ark Invest CEO Cathie Wood, Carolina Panthers owner David Tepper and rapper Jay-Z slated to speak. The event, now in its ninth year, has raised $44 million to fight poverty in New York City. As with every donation to Robin Hood, 100% of ticket sales go directly to the poverty fight.

Thursday 6/17

Wrapping up the week for earnings will be Kroger, Adobe and Smith & Wesson, while economic data will include the Labor Department's weekly initial and continuing jobless claim figures, the Philadelphia Fed's manufacturing index, and the Conference Board's index of leading economic indicators for the month of May.  

Ticker Security Last Change Change %
KR THE KROGER CO. 39.70 -0.12 -0.29%
ADBE ADOBE, INC. 614.57 -6.23 -1.00%
SWBD n.a. n.a. n.a. n.a.

DNA-testing company 23andMe is also expected to make its debut on the Nasdaq, trading under the ticker symbol "ME" via a business combination with billionaire Richard Branson’s special purpose acquisition corporation (SPAC) Virgin Group. 

The Silicon Valley-based company, which sells genetic testing kits direct-to-consumer, launched in 2006 and became sought-after for its saliva-based tests that aim to give people insight into their ancestry, or whether they are prone to health conditions like type 2 diabetes or celiac disease. In some instances, the testing kits have even helped reunite family members. The deal values 23andMe at $3.5 billion. 

Friday 6/18

On Friday, shareholders of AMC Entertainment Holdings will begin advance voting on the agenda for the movie chain's upcoming annual meeting. As of June 2, there are approximately 4.1 million1 individual shareholders eligible to vote.

"More than 80% of AMC shares are held by a broad base of retail investors with an average holding of around 120 shares," AMC CEO Adam Aron said. "Some hold more and some hold less, however, each and every shareholder is important to AMC."

Ticker Security Last Change Change %
AMC AMC ENTERTAINMENT HOLDINGS INC 38.95 -1.40 -3.47%

Shares of AMC have gained over 2,230% this year amid continued love from the retail trading community.

Ticker Security Last Change Change %
LUV SOUTHWEST AIRLINES CO. 51.30 -0.47 -0.90%

Friday will also mark Southwest Airlines' 50 year anniversary since its first flight with a "Wanna Get Away Day" promotion. Southwest customers have the chance to win a total of 50 million Rapid Rewards bonus points from June 1, 2021, through June 18, 2021. Customers also have daily opportunities to win Southwest gift cards and Companion Passes.