Record Market Highs Possible This Week? Key Catalysts: Apple, China, Inflation

Earnings season is nearly wrapped up, but a few notable reports are still on deck this week. The three I'm watching are Oracle, Adobe, and RH. Oracle and Adobe will provide further insight into the tech sector, while RH will offer a glimpse into the high-end consumer space.

The main focus this week, however, will be inflation. We’ll receive both the CPI and PPI reports, and it will be interesting to see whether prices are beginning to rise following the tariffs implemented in early April. A couple of weeks ago, we saw the lowest PCE report in months, which prompted some investors to call for a Federal Reserve rate cut.

Another key macro factor I'm tracking is the U.S. Treasury auctions. These are typically under the radar, but with the recent dollar weakness and rising bond yields, they've garnered renewed attention. This week includes auctions for 3-Year, 10-Year, and 30-Year Treasuries.

Investors will also be closely watching Apple's annual Worldwide Developers Conference (WWDC). Last year, Apple stock climbed after the company announced its plans to integrate AI across its ecosystem. However, the company has yet to deliver on those promises, and the stock is down roughly 20% year to date. All eyes will be on whether Apple finally unveils meaningful AI integration.

The market climbed back to the 6,000 level last week and is well positioned to make a run at new all-time highs. I believe that if Apple delivers a strong WWDC, we get further progress on U.S.–China trade discussions, and inflation remains contained, we could see record highs as soon as this week. The market is just over 2% off the peak—one or two positive catalysts may be enough to get us there.

As always, stay positive, stay invested, and stay optimistic.

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Have a great week!

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