What to Watch in the Day Ahead - Tuesday, June 11
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The Federal Open Market Committee (FOMC) starts its two-day meeting. The policy rate is widely expected to remain in the current 5.25%-5.5% range, unchanged since last July.
Oracle is expected to post a rise in fourth-quarter revenue as booming demand for artificial intelligence drives up enterprise cloud transitions.
Wells Fargo & Co Chief Financial Officer Mike Santomassimo will speak at the Morgan Stanley U.S. financials, payments & CRE conference. Separately, Bank of America's Regional Banking President Dean Athanasi is also scheduled to speak at the same conference.
Auto executives, including General Motors CFO Paul Jacobson and Ford CFO John Lawler, as well as top executives from Rivian, Lucid, Autoliv, BorgWarner, Aptiv and others, are scheduled to speak at the Deutsche Bank auto conference in New York.
On the Canadian economic front, Statistics Canada is expected to show that the value of Canadian building permits increased by 2.2% in April after falling 11.7% the month before.
In Latin America, Brazil's official statistics agency, IBGE, is expected to release inflation data for May. The country’s inflation likely rose 0.42% in May, after rising 0.38% in April. In the 12-months through May, inflation is expected to increase 3.89%. Separately, Mexico's national statistics agency is likely to show industrial output rose 4.6% in April after falling 3% in the prior month.
Compiled by Kumar Satyam; Editing by Ravi Prakash Kumar
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