Macroeconomic Outlook for Next Week: Middle East situation and core PCE data to dominate; Micron to release earnings report after market close on Wednesday.

Mars Finance reports that on June 20th, market focus will continue to revolve around Middle East geopolitics and US PCE data next week. Below are the key points the market will be paying attention to this week (all times are Beijing time): Thursday 04:00, the Federal Reserve releases the results of its annual bank stress tests; Thursday 20:30, US initial jobless claims for the week ending June 20th, US May core PCE price index year-on-year, US May personal spending month-on-month, final reading of US Q1 annualized real GDP quarter-on-quarter, preliminary reading of US Q1 real personal consumption expenditure quarter-on-quarter, final reading of US Q1 real personal consumption expenditure quarter-on-quarter, final reading of US Q1 core PCE price index annualized quarter-on-quarter, US May core PCE price index month-on-month, US May durable goods orders month-on-month; Friday 03:40, FOMC permanent voting member and New York Fed President Williams speaks; Friday 06:30, 2027 FOMC voting member and Chicago Fed President Goolsby speaks; Friday At 23:30, Neel Kashkari, a 2026 FOMC voting member and President of the Minneapolis Federal Reserve, will speak. The core PCE price index, which the Fed currently values most closely, will be released next Thursday, along with May's personal income and spending data. According to the Cleveland Fed's inflation forecasting model, the core PCE is expected to remain unchanged at 3.3% in May, while the overall PCE is expected to rise slightly from 3.8% to 4.0%. Micron Technology (MU), a memory chip manufacturer, will release its quarterly earnings report after the US stock market closes on Wednesday, June 24th, which will be a key indicator of chip demand, as the market will observe whether demand is still accelerating. The company is guiding revenue of $33.5 billion and a gross margin of approximately 81%.