Investors will strap in next week for more interest rate reality, with Federal Reserve Chairman Jerome Powell due to testify before Congress and expected to reiterate the need to combat inflation through aggressive rate hikes.
The economic reports due out next week include updates on existing home sales on June 21, initial jobless claims on June 23, and the University of Michigan reading on consumer sentiment on June 24, which could come in at a record low.
FedEx (NYSE:FDX) reports earnings on June 23 in what will be a closely watched report across several sectors. Meanwhile, the four-day Amazon (NASDAQ:AMZN) re: Mars event on AI, robotics, and automation innovation could turn some heads in the tech world. In the healthcare sector, the World Health Organization is in the spotlight, with the global agency set to vote on whether to declare monkeypox a public health emergency.
Notable movers off monkeypox developments have included SIGA Technologies (NASDAQ:SIGA), Bavarian Nordic (OTCPK:BVNRY) (OTCPK:BVNKF), Emergent BioSolutions (EBS), and GeoVax Labs (GOVX). Gun and ammunition stocks will also be on watch next week, with some Republicans opening the door for a potential vote on a gun bill. Smith & Wesson (NASDAQ:SWBI), Sturm, Ruger (RGR), Vista Outdoor (VSTO), Sportsman’s Warehouse (SPWH), AMMO (NASDAQ:POWW) and Olin Corporation (OLN) are some of the stocks that could see extra volatility