S&P 500
7,354.02
Jun 26 close
VIX Index
18.41
Fear Gauge
10Y Treasury
4.38%
Jun 26
Equity Risk Prem.
+0.16%
Historically Thin
2Y/10Y Spread
+0.31%
Uninverted
Gold (XAU)
$4,089
Safe-haven
WTI Crude
$69.23
Ceasefire

Growth & Labor

Real GDP Growth Q1 2026 · Final · BEA
2.1%
Annual rate

Final estimate up from 1.6% second estimate; consumer spending +0.5%

Unemployment Rate May 2026 · BLS
4.3%
Rising

June employment report due July 2. Up from 4.1% year-ago.

Non-Farm Payrolls May 2026 · BLS · Jobs added
+172K
Moderate

Job gains led by leisure and healthcare; offset by decline in financial activities

Job Openings (JOLTS) May 2026 · BLS
8.25M
Moderating

Job vacancies per unemployed worker at 1.25x; down from 2.0x peak in 2022

Wage Growth (AHE YoY) May 2026 · BLS
3.4%
Moderating

Average Hourly Earnings YoY; moderated slightly from 3.6% in April

Retail Sales (MoM) May 2026 · Census Bureau
+0.9%
Growth

Consumer spending resilient despite weak sentiment readings

Personal Savings Rate May 2026 · BEA
3.7%
Low

Percentage of disposable income saved; well below the 8.9% pre-pandemic average

Credit Card Delinquency Q1 2026 · Fed · 30+ Days
3.15%
Rising

Percentage of credit card balances in default; highest rate since 2011

Housing Starts (SAAR) May 2026 · Census Bureau
1.18M
−15.4% MoM

Sharpest monthly decline since 2023; elevated financing costs a drag

Case-Shiller Home Prices Apr 2026 · S&P CoreLogic
+5.8%
Steady

20-city composite YoY; prices remain supported by historically low inventory

Consumer Sentiment Jun 2026 Final · U. of Michigan
49.5
Historically low

Up from 44.8 in May; remains deeply depressed vs. 100-pt baseline

Inflation & Monetary Policy

Fed Inflation Target
2.0%
All three inflation gauges running well above target
CPI (YoY) May 2026 · BLS · Jun 10 release
4.2%
+0.5% MoM

Energy prices up 23.5% YoY, primary driver of headline acceleration

PCE Inflation (YoY) May 2026 · BEA · Jun 25 release
4.1%
+0.4% MoM

Personal Consumption Expenditures index; preferred Fed gauge

Core PCE (YoY) May 2026 · BEA · ex-Food & Energy
3.4%
+0.3% MoM

Persistent underlying inflation; next PCE release July 30

ISM Manufacturing PMI May 2026 · ISM
54.0
Expansion

Bounced back from months below 50; new orders and production lead

ISM Services PMI May 2026 · ISM
54.5
Expansion

23rd consecutive month of sector expansion; prices index at multi-year highs

High Yield Credit Spread Jun 26, 2026 · ICE BofA
3.42%
Thin

ICE BofA High Yield Option-Adjusted Spread; reflects strong corporate credit appetite

Corporate Default Rate May 2026 · Fitch · T12M
3.10%
Elevated

Trailing 12-month high-yield default rate; driven by telecom and retail defaults

Federal Reserve Policy
FOMC · Jun 16–17, 2026
Target Range
3.50 – 3.75%
Decision
Unchanged · 12–0 vote
Balance Sheet
$6.74T
QT Trend
Contracting
Next Decision
Loading...

Dot plot signals potential hikes in 2026 if inflation remains elevated

M2 Money Supply (YoY) May 2026 · Federal Reserve
-0.8%
Contracting

Total cash & near-money deposits; contracting YoY for the first time since the 1930s