- The focus this week is on U.S. data and the Federal Reserve’s rate outlook.
- The stock of Apple is recommended for a buy ahead of the highly anticipated WWDC23 event.
- It is expected that the stock of Nio will underperform with downbeat earnings on deck.
- If you are looking for a helping hand in the market, members of InvestingPro have exclusive access to research tools and data. Learn More »
Stocks on Wall Street ended the week sharply higher, with the Dow Jones Industrial Average rallying to its best level since August 2022. Investors were buoyed by a robust jobs report and the passage of a bill on the debt ceiling that averted a catastrophic default.
The blue-chip Dow rose 2% for the week, while the benchmark S&P 500 added 1.8%, and the tech-heavy Nasdaq surged 2%, notching up its sixth straight week of gains.
The week ahead is expected to be relatively quiet, with market players continuing to assess the outlook for interest rates, the economy, and inflation.
The Institute for Supply Management’s survey, scheduled for Monday, and the latest job report, due on Thursday, will be the most important on the economic calendar.

The U.S. central bank has no scheduled speakers on the agenda as it goes into its pre-FOMC meeting blackout period ahead of its policy decision on June 14.
According to Investing.com’s Fed predictions, financial markets have priced in a 75% chance of a pause this month and a nearly 25% chance of a 25-basis point rate hike as of Sunday morning.

There are only a few corporate results due on the earnings docket, including DocuSign, Stitch Fix, Campbell Soup, JM Smucker, GameStop, Signet Jewelers, Vail Resorts, and Ciena.