A heavy week ahead: inflation data, meme-stock earnings, and Apple’s big AI moment could shake markets as Trump tariffs loom and Musk tension lingers.

The stock market enters the week of June 9 at a fragile inflection point. With the S&P 500 hovering near record highs, investors now brace for a triple threat: fresh inflation data, tech giant announcements, and GameStop’s risky crypto pivot. Here’s what to watch.

Key CPI Report Could Tip Fed’s Hand

  • The May Consumer Price Index (CPI), due Wednesday, is expected to show inflation rose to 2.5% YoY (vs. 2.3% in April) and core CPI to 2.9%.
  • Monthly core inflation is forecasted at 0.3%, up from 0.2%.
  • Markets are watching closely to see whether Trump-era tariffs are pushing prices higher—especially as the Fed heads into its June 17 meeting under pressure to cut rates.

Trump’s influence is growing louder, with reports that consumer sentiment has cratered due to fear of inflation, tariffs, and a volatile political landscape.

Apple WWDC: Cook’s AI Vision Arrives

  • Apple’s (AAPL) Worldwide Developers Conference kicks off Monday with a keynote from Tim Cook.
  • The focus is on AI integration, new developer tools, and possible partnership announcements—all critical to Apple’s next growth cycle.
  • Investors will be parsing every word for hints on how Apple plans to catch up in the AI arms race.

GameStop Tries Bitcoin. Again.

  • Meme stock legend GameStop (GME) will report earnings Tuesday—and it won’t be about video games.
  • The company recently disclosed a $500 million bitcoin purchase, suggesting it’s moving toward a Michael Saylor-style crypto treasury strategy.
  • Investors are skeptical: is this a pivot or a desperate playbook rerun?

Musk vs. Trump Still Clouding Markets

  • Last week’s feud between Elon Musk and President Trump shaved billions off Tesla’s market cap and rattled the Nasdaq.
  • Tesla stock recovered 4% Friday but remains in focus as Trump threatens to review federal contracts and Musk doubles down on criticism.
  • With Trump calling Musk a “big-time drug addict” and Musk quietly deleting posts linking Trump to Epstein files, this saga isn’t over.
  • NASA and the Pentagon are actively exploring SpaceX alternatives, adding pressure to Musk’s empire.

Related: NASA and Pentagon Scramble for SpaceX Alternatives

AI Earnings on Deck

  • Oracle (ORCL) reports Wednesday, with analysts eyeing AI revenue from its new venture with OpenAI and SoftBank.
  • Adobe (ADBE) follows Thursday, expected to showcase performance of its Firefly AI graphics suite.
  • These reports may help anchor tech valuations—if they show AI is translating into cash flow.

Market Outlook: Calm Before the CPI Storm?

  • After a strong jobs report and fading tariff panic, the S&P 500 closed last week above 6000.
  • But with core inflation ticking up and Trump’s tariff deadlines approaching, the calm could be short-lived.
  • Economists warn the Fed is “reading the surface,” while real signs of labor market weakness and consumer distress deepen.

Calendar Snapshot

DateEvent
Monday, June 9Apple WWDC keynote



Wholesale inventories (April)
Tuesday, June 10GameStop (GME) earnings

Smucker (SJM) earnings





















GitLab (GTLB) earnings Academy Sports (ASO) earnings
Wednesday, June 11May CPI report
Oracle (ORCL) earnings U.S. federal budget data
Thursday, June 12Producer Price Index (PPI) Adobe (ADBE) earnings Tesla robotaxi reveal
Friday, June 13University of Michigan consumer sentiment data
Earnings Calendar

The week ahead will test how strong this rally really is. If CPI surprises to the upside or if Trump reignites trade war flames, markets may wobble. But AI earnings and Apple’s innovations could offer a lifeline.

Keep your eyes on: CPI, Cook, crypto—and chaos in Washington.

Related: 

Trump says relationship with Musk is over and threatens him

Elon Musk Empire Under Fire: What Trump’s Revenge Could Mean for Tesla and SpaceX

“You Mean Man Who Lost His Mind?” — Trump Slams Door on Musk

Timeline of Elon Musk and Donald Trump “Break Up”

Why Trump Can’t Just Quit Elon Musk — Even After Their Public Breakup