Another huge week awaits ASX shares and investors.
Let's take a look at the three biggest events to monitor, according to eToro market analyst Josh Gilbert:
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1. Australian inflation figures
The latest consumer price index numbers are due out Wednesday.
Inflation peaked at 8.4% for the year ending December, but four consecutive declines since then were not enough to stop the Reserve bank of Australia from raising interest rates in May.
All eyes will be on whether inflation can head down for the fifth consecutive month.
"The RBA will have welcomed employment and wages data coming in weaker than expected earlier in May as well as lower than expected retail sales," said Gilbert.
"Another decline in inflation will show that the RBA's massive tightening cycle is having the desired effect, and the Reserve Bank can keep rates on hold to allow the lag of its 12 rate rises to have the full impact."
Gilbert cautioned against getting too excited though.
"Investors shouldn't get ahead of themselves, with [RBA] governor Philip Lowe continuing to re-emphasise that further rate hikes may be ahead."
2. Qantas investor day
On Tuesday, the nation's largest airline, Qantas Airways Limited (ASX: QAN), will hold its first investor day in four years.
"Investors will be looking for an update on the group's strategy and what's next for the [airline] after what looks set to be their best fiscal year on record," said Gilbert.
"Investors will be hoping for some reassurance that this stellar performance can continue as Alan Joyce hands the reins over to Vanessa Hudson later this year after 15 years at the helm."
Back in 2019, investor day definitely had an impact on Qantas shares.
"The market liked what it heard, and shares jumped by 5% in the days after the event," said Gilbert.
"Qantas announced last week it was on track to hand down a full-year profit of $2.5 billion thanks to soaring demand, falling fuel prices and higher airfares, which we should hear more about this week."
The market will also be anticipating whether Qantas will return to paying out dividends — a practice that stopped after the COVID-19 pandemic struck.
"Given Qantas is on track to record its most profitable year ever, it would be a surprise not to see a return of the dividend when it hands down its full-year results later in the year."
After years of bruising battles, the presentations could allow Qantas to reset its relationships with key stakeholders.
"The day may also be a valuable opportunity for Qantas to give investors a better understanding of how they plan to improve relations between passengers and unions — and keep growing competition from the likes of Virgin Australia at bay."
3. Salesforce quarterly results
On the other side of the Pacific Ocean, software giant Salesforce Inc (NYSE: CRM) will reveal its latest quarterly earnings on Thursday.
According to Gilbert, the current US reporting season has been "better than feared" with "some big surprises and solid results".
"The focus this quarter will be on [Salesforce's] progress as they pivot from sales growth to profitability and how well management is executing this directional shift," he said.
"Margins will also be on watch after announcing its restructuring plan in January, which included a 10% cut to its workforce as they look to drive efficiency."
The last quarterly results really moved the dial for Salesforce shareholders.
"Following its FQ1 earnings in March, shares soared by 11.5% after beating expectations across the board and raising its guidance for the full year."
Investors will also await news on how the company's going with artificial intelligence, which it's been working on since 2016.
"Expectations are for Salesforce to report earnings of US$1.37 a share on sales of US$8 billion."
