Last call for interest rate hikes? The smart money is forecasting that Federal Reserve Chairman Jerome H. Powell will announce a quarter-point increase this week, which some think could be the last. Meanwhile, the Fed's European Union counterpart, the European Central Bank, meets as well and 25 also is expected to be the winning number. Cybersecurity will be on the minds of the SEC when it meets to look at public company cyber disclosures as investors tune into earnings reports from Invesco and T. Rowe Price and Singapore sovereign wealth fund GIC shows its cards. CalSTRS meets to discuss its annual business and work plans as well as topics that include paying for the net-zero transition.
- Invesco is slated to report second-quarter earnings Tuesday, with AllianceBernstein on deck Thursday. T. Rowe Price is expected to give a shout Friday before markets open.
- The Federal Open Market Committee's two-day meeting kicks off Tuesday. Market participants expect a quarter-point rate hike to be announced Wednesday as the central bank continues its fight against inflation.
- CalSTRS will be discussing its annual business and work plans as well as delving into a number of topics, including financing the net-zero transition, at its off-site meetings Tuesday through Thursday.
- New York State Teachers Retirement System board of trustees quarterly meeting convenes Wednesday.
- New Jersey State Investment Council, which governs investment policies for the New Jersey Pension Fund, is having its quarterly confab the same day.
- The Securities and Exchange Commission is meeting Wednesday to consider final amendments to rules related to public company cybersecurity disclosures. The agency will also consider proposing a rule regarding conflicts of interest associated with broker-dealers and investment advisers' use of predictive data analytics in connection with certain investor interactions.
- The ECB is expected to deliver another 25-basis-point rate hike at its meeting Thursday.
- Investors will be keeping an eye on Singapore sovereign wealth fund GIC, which said it will release its financial year results at the end of July, as its counterparts, the Monetary Authority of Singapore and Temasek, both posted losses.