Wall Street awaits Federal Reserve policy decision and new inflation data

U.S. stocks are holding steady ahead of key reports on inflation and the Federal Reserve's interest rate meeting. European markets dipped after French President Macron dissolved the National Assembly. Wall Street saw a slight decline on Monday. The Fed's interest rate decision is awaited after its meeting on Wednesday. Economic data suggests a cooling economy. Southwest Airlines' shares surged due to activist investor Elliott Investment Management's stake. The euro dropped following Macron's move. U.S. benchmark crude oil prices rose. The upcoming Fed rate decision and May inflation data will impact stock performance. GameStop experienced volatile trading. The economy added 272,000 jobs in May. The European Central Bank cut interest rates despite inflationary pressures. Investors are watching for the Fed's updated interest rate projections. Expectations for a rate cut in July remain uncertain. The May CPI report is anticipated to show a rise in inflation. Apple's Worldwide Developers Conference is expected to unveil new software updates. Key events this week include Treasury note auctions, small business index, CPI data, FOMC policy announcement, jobless claims, and consumer sentiment index.