Monday Market Must-Knows: June 4, 2023

Will there be another Fed ratehike?

On June 14th, the US markets will be closely watching Fed Chair, Jerome Powelland the Federal Open Market Committee (FOMC) for updates on rate hikes. Manyexpect rates to remain unchanged. However, there is still a 19 to 20% chance ofa 25 basis point increase. The recent jobs data released on Friday may havereduced the likelihood of a rate hike.

Last week, the tech sector experienced significant bullish moves, with stockslike Apple, Google, Facebook, Microsoft, Nvidia, and Tesla surging. The marketsare approaching overhead supply, which could create opportunities. The questionnow is whether this upward trend will continue. 

There are 368 companies reporting earnings this week. Notable events include JMSmuckers, Sienna, GameStop, Campbell Soup, DocuSign, Neil and BYD Motors. These last 2 are EV companies that are gaining attention followingTesla's success, offering potential opportunities.

International GDP reports from Australia, Japan, and the European Union willalso be released, potentially impacting currency markets.

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