05:37 AM EDT, 06/22/2026 (MT Newswires) -- US equity investors will focus this week on quarterly earnings from Micron Technology ( MU ) and inflation, while keeping a close eye on progress in talks between Iran and the US.

* Earnings due this week include Micron Technology ( MU ) , FedEx ( FDX ) , Cerebras Systems ( CBRS ) , Carnival (CCL), Trip.com ( TCOM ) , Darden Restaurants ( DRI ) , and Paychex ( PAYX ) .

* Looking ahead to Q2, consensus estimates call for earnings growth of more than 22%, according to a note from DA Davidson late Thursday. All of the S&P 500 constituents have reported Q1 results. Earnings surged almost 29% year-over-year, versus nearly 13% expected as of March 31, the strongest growth since Q4 2021. Information technology and communication services led the growth. Health Care was the only sector to see earnings fall in Q1.

* Macroeconomic data due this week includes personal consumption expenditures, or PCE, price index, final read on Q1 gross domestic product, ADP employment change, S&P global composite PMI, durable goods orders, and Michigan consumer sentiment final, as well as inflation expectations.

* "We used to think [PCE] was the Federal Reserve's favourite inflation gauge but now we're less sure given the arrival of a new Chair [Kevin Warsh] who launched five taskforces this past week including one to look at different measures of inflation," a Scotiabank note said late Thursday.

* The US and Iran agreed to create a "de-confliction cell," facilitated by Qatar and Pakistan to ensure the end of military operations in Lebanon, CNN cited mediators in a news report early Monday. Fighting between Israel and Iran-backed Hezbollah has been a key obstacle to a deal, with Tehran insisting that deadly Israeli strikes must stop.

* Iran's foreign minister, Abbas Araghchi, said sanctions on Tehran's oil were waived and some of its frozen assets released, CNN reported. Araghchi was also cited as saying a "reconstruction and development plan" was launched.