🗓️June 10–14
Markets made only modest moves heading into Friday, but all-time highs are within sight. We haven’t tested those levels just yet—but we might be getting close.
🔍Key Highlights from Last Week:
📉Inflation Surprise:
Despite all the tariff chatter, inflation data came in softer than expected. While companies may be absorbing some of the price increases in the short term, it was encouraging to see the wholesale inflation data also come in tame this month.
- Headline CPI: 2.4% YoY
- Core CPI: 2.8% YoY
- 🤝Trade Talks:
Some encouraging signs emerged in negotiations with China. Still, President Trump says universal tariffs could go into effect after the July 9th deadline. Hopefully, progress will be made before then.
💼Jobs Watch:
Initial jobless claims were steady, but continuing claims are at their highest since Fall 2021—something we’re watching closely.
📆Looking Ahead:
This week’s big event? Wednesday’s Fed meeting.
No rate cut is expected, but the Fed’s tone could shift market expectations. With softer economic data and tame inflation, the case to hold off on cuts may be weakening.
🛍️Don’t miss Tuesday’s retail sales report—it might give us a better read on the consumer.
📈 Stay tuned for more updates throughout the week from HPK Provident.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Economic forecasts set forth may not develop as predicted