Monday, June 8th, 2026
Whereas last week was “Jobs Week,” over the next few trading sessions we’ll get “Inflation Week” — particularly on Wednesday morning with a fresh Consumer Price Index (CPI) for May and Producer Price Index (PPI) Thursday morning. Expectations are for inflation to have moderated month over month.
Estimates are currently for +0.5% CPI growth from the prior month, -10 basis points (bps) below the +0.6% last reported. Core CPI is expected to have reached +0.3%, down from +0.4% for April. Year over year is a different story, however: +4.2% on headline would be an advance of +40 bps month over month, while year over year core is anticipated to have ticked up +10 bps to +2.9%.
PPI on headline is expected to be slashed more than in half from the previous month — +0.6% from +1.4% in April — with core estimated at +0.4% from +0.6% prior. Year over year, we don’t see new projections currently, but last month saw some of the highest inflation numbers since late 2022: +6.0% on headline and +4.4% on core. Clearly, anything close to these numbers this week will illustrate an inflation narrative rather unwelcome to our current economy.
Pre-Markets Improving After a Rough Friday
The final trading session of last week is one to forget: the Dow fell -695 points, and it got off easy; the S&P 500 shed -200 points, -2.65%, and the tech-heavy Nasdaq got routed Friday: -1121 points, -4.18% — it’s worst single day of trading since the fallout from tariff “Liberation Day” in April 2025. It was a good day for booking profits in Tech; this morning fills some of those deep craters dug in the market indexes last week.
For instance, memory and data storage chip-maker Micron MU shares are up +7% this morning, after tumbling roughly -13% on Friday, pulling back from its recent $1 trillion market cap. This came after astounding +750% growth in its share price over the past year, as it joins the AI revolution in a big way. Micron is still a Zacks Rank #1 (Strong Buy) this morning.
Hostilities have reportedly ceased between Iran and Israel this morning, after a weekend of launching missiles. Oil prices are up a point and a half or so this morning, but well off the recent highs when it was unclear which direction this war was going to go. Oil companies — especially the integrated “super-majors” — are up this morning, led by BP BP +2.3% at this hour.
Q1 earnings season is essentially over — a week or two after the calendar close of Q2 at the end of this month earnings season will pick back up again — though we do see some late companies posting numbers ahead of today’s open: Campbell’s Soup CPB beat the Zacks consensus by 2 cents to $0.50 per share, Duluth Holdings DLTH reported a much slimmer loss than expected and shares are up +6% on the news, and FuelCell Energy FCEL missed expectations by -20% but the stock is still up. After the close, we’ll hear from Vail Resorts MTN and Trip.com TRIP.
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Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>BP p.l.c. (BP) : Free Stock Analysis Report
Micron Technology, Inc. (MU) : Free Stock Analysis Report
The Campbell's Company (CPB) : Free Stock Analysis Report
FuelCell Energy, Inc. (FCEL) : Free Stock Analysis Report
TripAdvisor, Inc. (TRIP) : Free Stock Analysis Report
Vail Resorts, Inc. (MTN) : Free Stock Analysis Report
Duluth Holdings Inc. (DLTH) : Free Stock Analysis Report
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