The Most Important Data Release of the Month Is Exactly 1 Week Away -- and It Has the Potential to Shake Wall Street to Its Core Sean Williams, The Motley Fool June 3, 2026 4 min read ^DJI NVDA INTC ^GSPC ^IXIC In case you haven't noticed, the stock market is on fire. Last week, investors witnessed the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite (NASDAQINDEX: ^IXIC) all log several record-closing highs, fueled by excitement over the evolution of artificial intelligence. But the sustainability of this historic rally is very much in question, with the most important data release of the month, if not the second quarter, scheduled for one week from today.
On June 10, at 08:30 a.m. Bureau of Labor Statistics (BLS) will publish the May inflation report -- and it has the ability to pull the rug out from beneath Wall Street. Will AI create the world's first trillionaire?
Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Fed Chair Kevin Warsh and the FOMC face a sizable challenge from rapidly rising inflation. Official White House Photo by Daniel Torok.
The most consequential inflation report is one week away To preface this discussion, some level of inflation (rising prices) is perfectly normal and healthy. Since January 2012, the Federal Open Market Committee (FOMC) -- the 12-person body responsible for setting the nation's monetary policy -- has targeted long-term inflation of 2%. The issue is that trailing 12-month (TTM) inflation for May is expected to exceed the FOMC's long-term target by more than double.
Between February and April, TTM inflation jumped from a BLS-reported 2.4% to 3.8%. According to the Cleveland Fed's proprietary Inflation Nowcasting tool, TTM inflation for May is projected to rise by 38 basis points to 4.18%. The primary culprit for this rapid increase is the Iran war.
Iran's closure of the Strait of Hormuz has stymied the movement of 20 million barrels of petroleum liquids per day. We've watched gas prices soar at the fastest pace in over 30 years. But where the May inflation report could really hurt Wall Street is the potential spillover of higher prices into core inflation (i.e., excluding food and energy price changes).
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