Next week's macroeconomic outlook includes the US CPI, two major central bank policy decisions, and the highly anticipated SpaceX IPO.

According to Mars Finance, market sources indicate that following Friday's much-better-than-expected non-farm payroll data release, market expectations for a Federal Reserve rate hike this year surged, causing spot gold to plummet, almost erasing all of its year-to-date gains and marking its fourth consecutive week of decline. Silver's overall trend mirrored gold but with slightly higher volatility, closing down 9.85% this week. The US dollar index, boosted by the better-than-expected non-farm payroll data, rose sharply to slightly above the 100 mark. Following Friday's non-farm payroll data release, US tech stocks suffered a sharp decline. The Dow Jones Industrial Average closed down 1.35%, the S&P 500 fell 2.65%, its largest single-day drop since October 2025, and the Nasdaq Composite fell 4.18%, its largest single-day drop since April 2025. Goldman Sachs believes that greed currently outweighs fear in the market. Deutsche Bank points out that the market is highly sensitive to any negative news involving Iran. Here are the key market events to watch this week (all times are Beijing time): Monday 23:00, US May New York Fed 1-year inflation expectations; Tuesday 14:00, Germany April seasonally adjusted industrial production month-on-month rate, April seasonally adjusted trade balance; Tuesday 18:00, US May NFIB small business confidence index; Tuesday 20:15, US ADP employment change week-on-week for the week ending May 23; Wednesday 20:30, US May unadjusted CPI, May seasonally adjusted CPI/core CPI month-on-month rate; Wednesday 21:45, Bank of Canada interest rate decision; Thursday 20:15, ECB interest rate decision; Thursday 20:30, US initial jobless claims for the week ending June 6, May PPI year-on-year/month-on-month rate; Friday 14:00, Germany May final CPI month-on-month rate; Friday 14:45, France May CPI... Final monthly rate reading; Friday at 22:00, preliminary readings of the US June one-year inflation rate expectations and the June University of Michigan Consumer Sentiment Index. The market will see a series of important events in the coming week, but the most anticipated is SpaceX's potential initial public offering (IPO). According to current arrangements, the transaction may commence on Friday, and if it goes ahead, it is expected to have a significant impact on overall market sentiment, although the specific direction is still difficult to predict. Besides SpaceX, Apple's Worldwide Developers Conference, earnings reports, and TSMC's May sales data are also likely to be important factors influencing market volatility. Next week, US stocks enter a relatively quiet phase of earnings season. Although the overall number of reports is not large, two heavyweight technology companies, Oracle and Adobe, will be the focus of market attention.