Catalyst Watch: Powell goes to DC, FedEx earnings, and big banks get a stress test

[manhattan office building]
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Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Read more about the events that may impact stock prices next week.

MONDAY - JUNE 23

* VOLATILITY WATCH - The conflict between Israel and Iran will continue to be front and center for equity and commodities markets. Nektar Therapeutics (NKTR [https://seekingalpha.com/symbol/NKTR]) and INmune Bio (INMB [https://seekingalpha.com/symbol/INMB]) have a higher level of implied volatility than normal based on options trading. The most overbought stocks per their 14-day relative strength index include Columbus Circle Capital Corp. I (CCCMU [https://seekingalpha.com/symbol/CCCMU]), Coinsilium Group (OTCQB:CINGF [https://seekingalpha.com/symbol/CINGF]), and Regencell (RGC [https://seekingalpha.com/symbol/RGC]). The most oversold stocks per their 14-day Relative Strength Index include PG&E (PCG [https://seekingalpha.com/symbol/PCG]) and Copart (CPRT [https://seekingalpha.com/symbol/CPRT]).
* IPO WATCH - Jefferson Capital (JCAP [https://seekingalpha.com/symbol/JCAP]) is expected to price its IPO and begin to trade. The consumer finance company is offering 625,000 shares and selling shareholders are offering 9.4 million shares. At the top end of the expected pricing range of $15.00 to $17.00, the company would be valued at ~$1.10 billion.
* EARNINGS WATCH - Notable companies due to report include Factset Research (FDS [https://seekingalpha.com/symbol/FDS]) and KB Home (KBH [https://seekingalpha.com/symbol/KBH]).
* DIVIDEND WATCH - Some companies that have an ex-dividend date coming next week include Disney (DIS [https://seekingalpha.com/symbol/DIS]), Humana (HUM [https://seekingalpha.com/symbol/HUM]), Keurig Dr Pepper (KDP [https://seekingalpha.com/symbol/KDP]), and Philip Morris (PM [https://seekingalpha.com/symbol/PM]).
* ALL DAY - Flash global June PMI reports will give traders a broad view of economic activity and business sentiment for the month.
* ALL DAY - The four-day Samsara Beyond event will begin. The event will highlight the company's innovations in safety, efficiency, and sustainability for connected operations. Samsara (IOT [https://seekingalpha.com/symbol/IOT]) will also hold an Investor Day event in connection with Samsara Beyond.
* 10:00 A.M. The Existing Home Sales report will be released by the National Association of Realtors.

TUESDAY - JUNE 24

* EARNINGS WATCH - Notable companies due to report include FedEx (FDX [https://seekingalpha.com/symbol/FDX]) and Carnival (CCL [https://seekingalpha.com/symbol/CCL]). Options trading implies a double-digit share price move for BlackBerry (BB [https://seekingalpha.com/symbol/BB]) after it reports.
* ALL DAY - HPE (HPE [https://seekingalpha.com/symbol/HPE]) CEO Antonio Neri will deliver a keynote address at the HPE Discover event in Las Vegas. The four-day event will have a strong focus on networking, AI, and hybrid cloud, with announcements expected on HPE GreenLake, next-gen storage, and AI-native networks.
* ALL DAY - Federal Reserve Chairman Jerome Powell to testify to the House Financial Services Committee.
* ALL DAY - Traders will be watching the two-day NATO Summit at The Hague. Notably, the STOXX Europe Aerospace & Defense ETF (EUAD [https://seekingalpha.com/symbol/EUAD]) is up 66% this year as Europe has looked to strengthen itself.
* ALL DAY - CF Industries (CF [https://seekingalpha.com/symbol/CF]) will hold an Investor Day event.
* ALL DAY - Some of the notable companies due to appear at the Northland Growth Conference include FatPipe (FATN [https://seekingalpha.com/symbol/FATN]), Asure Software (ASUR [https://seekingalpha.com/symbol/ASUR]), Innventure (INV [https://seekingalpha.com/symbol/INV]), and TeraWulf (WULF [https://seekingalpha.com/symbol/WULF]).
* 9:00 A.M. Economists have the release of the S&P/Case-Shiller House Price Index circled as a key update for the housing market
* 10:15 A.M. Cleveland Federal Reserve Bank President Beth Hammack will participate in a panel before the Barclays-CEPR Monetary Policy Forum 2025.
* 12:30 P.M. New York Federal Reserve Bank President John Williams gives keynote remarks to the Center for Economic Growth and NY CREATES.

WEDNESDAY - JUNE 25

* EARNINGS WATCH - Notable companies due to report include Micron Technology (MU [https://seekingalpha.com/symbol/MU]), Paychex (PAYX [https://seekingalpha.com/symbol/PAYX]), General Mills (GIS [https://seekingalpha.com/symbol/GIS]), and Jefferies (JEF [https://seekingalpha.com/symbol/JEF]). Options trading implies a double-digit share price move for Winnebago (WGO [https://seekingalpha.com/symbol/WGO]) after it reports.
* ALL DAY - Equinix (EQIX [https://seekingalpha.com/symbol/EQIX]) will host an Analyst Day event. The company's leadership team will present and participate in Q&A.
* ALL DAY - Federal Reserve Chairman Jerome Powell will testify to the Senate Banking Committee.
* 10:00 A.M. Acadia Pharmaceuticals (ACAD [https://seekingalpha.com/symbol/ACAD]) will host an R&D day in New York City to discuss its neurological and rare diseases pipeline. The stock has rallied after similar events in the past.
* 10:00 A.M. The New Home Sales report will be released by the U.S. Census Bureau.
* 2:00 P.M. Nvidia (NVDA [https://seekingalpha.com/symbol/NVDA]) will hold its annual meeting of shareholders. Proposals up for vote include director appointments, and shareholder proposals on the rules for special meetings and workforce data reporting.

THURSDAY - JUNE 26

* EARNINGS WATCH - Notable companies due to report include Nike (NKE [https://seekingalpha.com/symbol/NKE]), McCormick (MKC [https://seekingalpha.com/symbol/MKC]), Walgreens Boots Alliance (WBA [https://seekingalpha.com/symbol/WBA]), and Lindsay (LNN [https://seekingalpha.com/symbol/LNN]). Options trading implies a double-digit share price move for American Outdoor Brands (AOUT [https://seekingalpha.com/symbol/AOUT]) after it reports.
* ALL DAY - Genpact (G [https://seekingalpha.com/symbol/G]) will hold an Investor Day event. The focus will be on Genpact’s AI-driven transformation strategy, data and domain-driven solutions, and future growth roadmap.
* ALL DAY - It will be another active day of Fedspeak, with Richmond Federal Reserve Bank President Thomas Barkin, Federal Reserve Board Governor Michael Barr, and Cleveland Federal Reserve Bank President Beth Hammack all scheduled to give talks.
* 9:00 A.M. Crinetics Pharmaceuticals (CRNX [https://seekingalpha.com/symbol/CRNX]) will host an in-person and virtual R&D Day in New York. The event will provide an update including data on the company's early-stage pipeline assets, next steps, and portfolio strategy to drive long-term value.

FRIDAY - JUNE 27

* 8:30 A.M. The core PCE price index report for May will be released. The Fed's favored inflation gauge was up 2.5% year-over-year in April.
* 4:30 P.M. The Federal Reserve will release the results of its annual bank stress tests. The release of the stress test results has been a major event for investors in the past, particularly those with exposure to large U.S. banks and the broader financial sector.
* POSTMARKET - The annual Russell Index reconstitution becomes effective. Investors should prepare for increased volatility and potential price dislocations in stocks being added to or removed from the Russell indexes.

MORE ON THE MARKETS

* Don't Buy The S&P 500, Buy This Sector Instead [https://seekingalpha.com/article/4796119-dont-buy-the-s-and-p-500-buy-this-sector-instead]
* Don't Hire, Don't Fire SPY Amid Tepid Employment Data And College Grad Hiring [https://seekingalpha.com/article/4795633-do-not-hire-do-not-fire-spy-amid-tepid-employment-data-and-college-grad-hiring]
* S&P 500: Respond To War With ROAR (Technical Analysis) [https://seekingalpha.com/article/4794986-s-and-p-500-respond-to-war-with-roar-technical-analysis]
* Trump to decide on Iran in two weeks; Tehran reportedly rushing to export oil [https://seekingalpha.com/news/4459967-trump-decision-iran-two-weeks]
* Canada signals higher duties on U.S. steel if trade deal is not reached [https://seekingalpha.com/news/4459959-canada-signals-higher-duties-on-us-steel-if-a-trade-deal-is-not-reached]