Next week's macro outlook: Middle East situation and core PCE data dominate; Micron will release earnings after Wednesday's market close.

BlockBeats News, June 20 — Market focus next week will continue to revolve around Middle Eastern geopolitical developments and U.S. PCE data. Below are the key points the market will focus on in the new week (all times Beijing time):

Thursday 04:00, the Federal Reserve will release the results of its annual bank stress tests;

Thursday 20:30, the U.S. initial jobless claims for the week ending June 20, the U.S. May core PCE price index year-over-year rate, the U.S. May personal expenditures month-over-month rate, the U.S. Q1 actual GDP annualized quarterly rate (final), the U.S. Q1 actual personal consumption expenditures quarterly rate (initial estimate), the U.S. Q1 actual personal consumption expenditures quarterly rate (final), the U.S. Q1 core PCE price index annualized quarterly rate (final), the U.S. May core PCE price index month-over-month rate, and the U.S. May durable goods orders month-over-month rate;

Friday 03:40, FOMC permanent voting member and New York Fed President William Williams will speak;

Friday 06:30, FOMC voting member for 2027 and Chicago Fed President Austan Goolsbee will speak;

Friday 23:30, FOMC voting member for 2026 and Minneapolis Fed President Kashkari will speak.

The Federal Reserve’s most closely watched core PCE price index will be released next Thursday, along with May personal income and expenditure data. According to the Cleveland Fed’s inflation forecast model, May’s core PCE is expected to remain unchanged at 3.3%, while overall PCE is expected to edge up from 3.8% to 4.0%.

Memory chip manufacturer Micron Technology (MU) will release its quarterly earnings after the U.S. stock market closes on June 24 (Wednesday). This will be a key measure of chip demand, and the market will use it to assess whether demand is still accelerating. The company’s guidance calls for revenue of $33.5 billion, with a gross margin of approximately 81%.