Coffee With Greta: Big Week

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DJIA Futures: +42 (+0.1%)

SPX Futures: +12 (+0.3%)

NASDAQ Futures: +77 (+0.5%)

Good morning friends!

Futures are higher as traders bet the Fed will pause rate hikes this week.

Let’s get right to it!

Jam Packed Week

This will be a big week for traders with new inflation data and the next Fed decision both on the calendar.

Things kick off Tuesday morning with the release of the May consumer price index at 8:30 a.m. ET.?

The Fed meeting then begins later that morning.?

Then on Wednesday, the May producer price index will be out at 8:30 a.m., followed by the Fed’s rate announcement at 2:00 p.m.

CME Group’s FedWatch Tool currently shows 73.6% of traders betting on a pause at this week’s meeting.

Thursday is a busy morning with weekly jobless claims, May retail sales, May import prices, the Empire State manufacturing index, and the Philly Fed manufacturing index all at 8:30 a.m. ET.?

The University of Michigan releases its consumer sentiment index at 10:00 a.m. on Friday.

Tesla Extends Gains

Tesla (TSLA) shares are up 1.5% ahead of the open and on track to notch a new record series of gains.?

If the electric automaker’s stock closes higher today it will be the 12th consecutive rise, which would be a new record for the company.?

The stock’s most recent down day was on May 24, when shares closed at $182.90.?

TSLA is set to open above $248 per share today.

Oil Prices Fall

Oil prices are slipping this morning as investors look ahead to this week’s Fed decision.?

West Texas Intermediate crude futures are down 2.8% to just over $68 bbl while Brent crude futures are down 2.5% to just under $73 bbl.?

Concerns about demand in China and rising Russian crude supply are also putting pressure on prices.?