Market Summary - June 22, 2026
Economic Calendar Highlights
Today's economic focus is on Canada's Consumer Price Index (CPI) report, which is expected to show a year-on-year increase of 3.0% compared to the previous 2.8%. The month-on-month CPI is forecasted to rise by 0.8% from the previous 0.4%.
Other notable economic releases include:
- China's 1-year lending rate remains at 3.00% and the 5-year lending rate at 3.50%.
- Poland's wage growth year-on-year for May is forecasted at 6.0%, up from 5.4%, and retail sales year-on-year is expected to rise to 5.3% from 2.8%.
- Speeches from Bundesbank President Nagel, ECB President, and Fed member Waller are also scheduled.
Market Performance
European indices opened the day with slight gains, indicating a positive market sentiment despite geopolitical tensions. Key index performances include:
- DAX (DE40): 25,182 points (+0.07%)
- CAC40: 8,441 points (+0.14%)
- Eurostoxx50: 6,325 points (+0.22%)
- FTSE MIB (ITA40): +0.11%
- Swiss SMI (SUI20): +0.22%
The market's optimism is attributed to the reopening of the Strait of Hormuz and preliminary agreements between the US and Iran, which are seen as positive developments.
Upcoming Earnings Reports
This week marks a significant earnings season with key reports expected:
- Tuesday, June 23: FedEx (EPS forecast: 5.96 vs. previous 6.07; revenue forecast: 23.54B vs. previous 22.2B) and Carnival (EPS forecast: 0.46 vs. previous 0.35).
- Wednesday, June 24: Micron Technology (EPS forecast: 10.81 vs. previous 1.91; revenue forecast: 22.51B vs. previous 9.3B) - a critical report for the semiconductor sector amid the AI boom.
- Thursday, June 25: Darden Restaurants, SYNNEX, McCormick, and Acuity Brands will report pre-market.
Particularly, Micron's results are anticipated to create significant volatility in the semiconductor market.