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AMD, Pfizer, NIO, DocuSign, Campbell Soup, and Other Stocks for Investors to Watch This Week

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It’s a relatively quiet week on the earnings calendar. Highlights will include J.M. Smucker on Tuesday, Campbell Soup on Wednesday, and DocuSign, NIO, and Vail Resorts on Thursday.

Pfizer also hosts an investor meeting on Monday and Advanced Micro Devices hosts a financial analyst day on Thursday.

The economic-data highlight of the week will be the latest U.S. inflation reading, out on Friday. The Bureau of Labor Statistics’ Consumer Price Index is expected to have climbed 0.7% in May, for a 8.2% year-over-year increase. Excluding food and energy components, the core CPI is seen rising 0.4% last month and 6% from a year earlier.

Other data out next week will include the University of Michigan’s Consumer Sentiment index for June on Friday. Finally, the European Central Bank will announce a monetary-policy decision on Thursday.

Monday 6/6


Coupa Software

and


Gitlab

report quarterly results.


Pfizer

hosts an investor meeting to discuss expanding access and affordability to the company’s drugs and vaccines.

Tuesday 6/7


Casey’s General Stores
,


Guidewire Software
,


J.M. Smucker
,

and


Smartsheet

announce earnings.

The Federal Reserve reports consumer credit data for April. Consensus estimate is for total consumer debt to increase by $35 billion to a record $4.57 trillion. In the first quarter, consumer credit rose at a seasonally adjusted annual rate of 9.7%. Revolving credit, which is mostly credit-card debt and makes up nearly a quarter of all consumer debt, jumped 21.4% in the first three months of the year. As inflation has spiked, consumers have kept retail spending at high levels by borrowing more.

Wednesday 6/8


Brown-Forman

and


Campbell Soup

release quarterly results.

Thursday 6/9

Facebook parent


Meta Platforms

begins trading under its new ticker, META. This completes a rebranding effort, which began last year, as the social-media giant pivots to the metaverse that it plans to build out.


DocuSign
,


NIO
,
and


Vail Resorts

hold conference calls to discuss earnings.


Advanced Micro Devices

holds a financial analyst day. The company is expected to lay out its product road map at the meeting.

The European Central Bank announces its monetary-policy decision. The ECB is expected to keep its deposit rate unchanged at negative 0.5%, at which it has been since September 2019. With eurozone inflation recently hitting record levels, Christine Lagarde, the ECB’s president, has said that the deposit rate probably will be out of negative territory by the end of September. Traders are pricing in one quarter-point rate hike for the July meeting and another quarter-point increase at the September meeting.

Friday 6/10

The University of Michigan releases its Consumer Sentiment index for June. Economists forecast a 58.8 reading, slightly higher than May’s 58.4. The May figure was the lowest for the index since August 2011, as rising inflation, particularly record-high home prices, has soured consumers’ moods.

The Bureau of Labor Statistics releases the consumer price index for May. Expectations are for the CPI to increase 8.2% year over year, compared with a 8.3% jump in April. The core CPI, which excludes volatile food and energy prices, is seen rising 6% after a gain of 6.2% previously. Inflation most likely peaked at 8.5% in March, but how quickly it moves back toward the Federal Reserve’s stated goal of 2%, will determine when the Fed can pause its interest-rate hikes.

Write to Nicholas Jasinski at nicholas.jasinski@barrons.com

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