The week ahead

#3 big updates!

Apple’s big summer event is here: And the company is under immense pressure to show it’s got a strong AI hand to play. Later today, during Apple’s WWDC keynote, execs will reveal a new AI system that integrates with its devices and a new partnership with OpenAI on a ChatGPT-infused chatbot, Bloomberg reports. Apple has typically adopted the strategy best described as “You don’t have to be first as long as you’re the best,” but as it’s fallen far behind its peers in the AI race, investors will need to be wowed.

Elon Musk’s massive pay package is up for a vote: At Tesla’s annual meeting on Thursday, shareholders will vote on whether CEO Elon Musk should be awarded a $56 billion pay package that was voided by a Delaware judge earlier this year. Musk and his supporters have been getting out the vote on social media, telling investors that the financial incentives will keep his energy focused on the automaker. Some of Tesla’s large institutional investors, such as Norway’s $1.7 trillion wealth fund, say they’ll vote no.

Inflation data, Fed meeting on tap: If you’re into macroeconomics, Wednesday can’t come soon enough. Inflation data for May arrives in the morning, and it’s expected to show price growth held steady at 3.4% annually. In the afternoon, the Fed will wrap up its meeting with a Jerome Powell press conference. The central b is pretty much a lock to hold interest rates at their current level.

Everything else…

  • World leaders, including the pope, will convene at the G7 summit in Italy beginning on Thursday.

  • In hockey, the Edmonton Oilers are hoping to become the first Canadian NHL team to win the Stanley Cup in 31 years, but they’re down 1–0 in the series against the Florida Panthers. Game 2 is tonight.

  • Golf’s US Open begins Thursday at Pinehurst in North Carolina.

  • It’s not the World Cup, but it’s the next best thing: The Euro 2024 soccer tournament begins on Friday.

Stay informed to manage your finances effectively this June!

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