U.S. May CPI and PPI data released Apple WWDC conference attracts much attention [One week ahead]

TradingKey - Last week, all three major US stock indices recorded gains, with the S&P 500 up 1.5%, the Nasdaq up 2.18%, and the Dow up 1.17%. This week, the US CPI and PPI data for May and the first meeting of the China-US economic and trade consultation mechanism will be released, which will test whether the stock market can rise further in the short term. The US CPI report for May, scheduled for release on Wednesday, may provide clues to assess the impact of tariffs, especially as investors remain wary of a rebound in inflation. Another highlight this week is Apple's annual developer conference (WWDC 2025), where Apple may announce major improvements to the iOS system, real-time translation capabilities for AirPods, and new exclusive gaming apps. The first meeting of the China-US economic and trade consultation mechanism will be held this week, and the results of the consultations will directly affect macro sentiment and actual trade trends.

Major event preview

The US CPI and PPI data for May will be released, bringing more Fed policy signals

The US Consumer Price Index (CPI) for May will be released on Wednesday. Economists generally believe that prices in May will begin to reflect the impact of tariffs. It is estimated that the annual growth rate of CPI will rise from 2.3% in April to 2.5%, and the annual growth rate of core CPI will rise from 2.8% to 2.9%.

Wall Street is still worried that the US economy is trapped in "stagflation". If there are signs that inflation may accelerate again recently, it will put further pressure on disposable spending, which may eventually lead to a more significant slowdown in economic growth.

Apple WWDC conference attracts attention

At 10 a.m. Pacific Time on Monday (1 a.m. Beijing Time on Tuesday), Apple's annual Worldwide Developers Conference (WWDC) will kick off. Currently, Apple is preparing for WWDC. This is Apple's annual event focusing on software, which has attracted the attention of Apple fans and investors.

As the most important annual technology feast, WWDC has always been an important window for Apple to release technology and products. In 2023, Apple released Vision Pro for the first time at the conference; in 2024, it introduced its AI system "Apple Intelligence". This time, WWDC is likely to only see the "mini version of Apple AI" that is "small in size and easy to run on the terminal".

The first meeting of the China-U.S. economic and trade consultation mechanism

According to the Chinese Ministry of Foreign Affairs, the spokesperson of the Ministry of Foreign Affairs announced that at the invitation of the British government, He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, will visit the UK from June 8 to 13. During this period, the first meeting of the China-US economic and trade consultation mechanism will be held with the US side.

According to the remarks made by the spokesperson of the Ministry of Commerce on the joint statement of the China-US Geneva economic and trade talks on May 12, China and the United States agreed to establish a China-US economic and trade consultation mechanism, maintain close communication on their respective concerns in the economic and trade fields, and conduct further consultations. The Chinese representative is Vice Premier of the State Council He Lifeng, and the US representative is Finance Minister Bensant and Trade Representative Greer. Reuters revealed on Friday that China has issued temporary export licenses to rare earth suppliers of the three largest U.S. automakers. In addition, U.S. President Trump said on the same day that China has promised to resume exports of rare earths and rare earth magnets. If Chinese President Xi Jinping really approves the resumption, it will ease tensions between the U.S. and China.

Tesla's Robotaxi service may be launched in Austin on Thursday (June 12).

Tesla plans to launch its much-anticipated robotaxi service in Austin, Texas on June 12, according to Bloomberg, citing people familiar with the matter. Although this internal information has not been officially confirmed, it is consistent with Musk's previous promise of "launching the service by the end of June."

Musk said this month that Tesla will initially deploy about 10 self-driving robotaxis in Austin, and then quickly expand to 1,000 vehicles in the next few months.

Selected economic data

Wednesday： US May unadjusted CPI annual rate

Thursday： US May PPI annual rate

Friday： US June University of Michigan Consumer Confidence Index preliminary value

This week's featured events

On Monday：He Lifeng visited the UK from June 8 to 13 and held the first meeting of the China-US Economic and Trade Consultation Mechanism.

On Tuesday： Apple held the Worldwide Developers Conference (WWDC) at Apple Park

On Friday： the Federal Reserve released the "U.S. Quarterly Financial Accounts Report".

Company Financial Report

Monday：Caseys General Stores (CASY)

Tuesday：GameStop (GME)

Wednesday：Oracle (ORCL)

Thursday： Adobe (ADBE)