Markets will reopen after the Juneteenth holiday weekend into a busy stretch. The Federal Reserve held its benchmark interest rate steady on Wednesday, but a hawkish set of projections pointed to a possible rate increase later this year. And a framework to wind down the U.S. conflict with Iran has pulled oil prices well off their 2026 highs, easing a big inflation worry.
Against that backdrop, the week brings two large earnings reports and a banking release that, in most years (but this year is different), helps determine how much cash the biggest banks can return to shareholders.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a “Double Down” signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same “Total Conviction” signal is flashing for a company 1/100th the size of Nvidia. Continue »
1. FedEx and the health of the global economy
FedEx (NYSE:FDX) reports fiscal fourth-quarter results on Tuesday after the market closes, and it does so as a changed company. On June 1, it completed the spin-off of its less-than-truckload (LTL) freight business into a separate public company, leaving a pure-play parent focused on package and express delivery.
FedEx is worth watching for more than its own numbers. It moves packages and freight for businesses across nearly every industry, which makes its commentary a useful read on where the broader economy is heading.
When FedEx reported in March, its Federal Express segment operating income rose 21% year over year, and management raised its full-year adjusted earnings guidance to a range of $19.30 to $20.10 per share.
The question this time is whether that momentum held through the spring, and what FedEx says about demand for the rest of the year.
There’s a competitive dynamic to watch, too. Amazon (NASDAQ:AMZN) recently opened its less-than-truckload shipping service to outside businesses, expanding further into territory FedEx and its rivals have long controlled. At about 17 times earnings, the stock isn’t priced for perfection, leaving room to rise if the outlook holds up.
2. Micron and the AI memory boom
Micron Technology (NASDAQ:MU) reports fiscal third-quarter results on Wednesday after the close. The memory chipmaker enters the report near an all-time high, with shares up nearly 300% so far in 2026.
Artificial intelligence (AI), of course, is the tailwind powering Micron’s business and, in turn, its stock. Data centers running AI models need enormous amounts of high-bandwidth memory, which Micron makes, and tight supply has sent prices and profits soaring.
