Tech conferences, earnings, and Juneteenth: What to watch in the markets this week

Last week was eventful and busy, with Apple integrating AI into its iPhones, Tesla’s shareholders approving Elon Musk’s compensation, and the inflation rate decreasing.

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Although the stock market had some bumps during the week, it ended up being okay, and now all eyes are on what the upcoming week holds.

And most importantly, U.S. markets will be closed Wednesday for the Juneteenth National Independence Day holiday.

Important conferences to watch this week

The Collision Conference, also known as the ‘Olympics of tech,’ will begin on Monday in Toronto. Leaders from the tech, media, and entertainment industries will speak at the conference, including Maya Kulycky, VP of Strategy and Operations at Google Research, Keily Blair, CEO of OnlyFans, tennis legend Maria Sharapova, and crypto entrepreneur Lisa Landsman, CEO of Stash Financial.

In Las Vegas, the Edison Electric Institute conference will host its annual gathering of energy and tech industry executives. Nvidia’s Jensen Huang is scheduled to give a keynote address at the conference.

Moreover, Switzerland will host the World Crypto Conference from Sunday through Tuesday.

Accenture and Kroger to report earnings

Accenture will release its earnings report before the market opens on Thursday for its fiscal quarter ending in May 2024.

In prior quarter, the Dublin-based company exceeded Wall Street’s expectations but reduced its full-year revenue forecast. This year, the shares of this global professional services firm have declined almost 18%. Earlier this month, the company shook up its leadership team. According to Zacks Investment Research, the consensus earnings per share (EPS) forecast for the quarter is $3.14. The reported EPS for the same quarter last year was $3.19.

Grocer and drug retailer Kroger will report its earnings Thursday before the opening bell. According to Zacks Investment Research, the consensus EPS forecast for the quarter is $1.33. The reported EPS for the same quarter last year was $1.51.

Kroger, America’s biggest sushi retailer, says it’s marking International Sushi Day on June 18 with “limited-time flavors and special deals.”

Home sales data due on Friday

While the majority of Americans say this is a bad time to buy a house, the National Association of Realtors will release its May existing home sales data on Friday. The data follows the release of the latest Fannie Mae Home Purchase Sentiment Index earlier this month. It revealed that only 14% of consumers think it’s a good time to buy a house, down from 20% last month.

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