US GDP and PCE Data Due May 28; SpaceX IPO Timeline Accelerates
The Bureau of Economic Analysis releases the Q1 GDP second estimate and PCE inflation data simultaneously at 8:30 a.m. ET on May 28, providing a key inflation-and-growth read before the June FOMC. SpaceX's S-1 filing targets Nasdaq trading as early as June 12 under ticker SPCX at a potential $1.75 trillion to $2 trillion valuation, pending SEC review.
Key Takeaways
- 1## Economic Data Calendar Converges Before June FOMC The Bureau of Economic Analysis will release the Q1 GDP second estimate and May PCE inflation data simultaneously at 8:30 a.
- 2m.
- 3ET on Wednesday, May 28.
- 4The twin release provides the clearest read to date on whether growth and inflation are moving in opposite directions as the US economy enters Q2.
- 5The data arrives with the May jobs report scheduled for June 5 and May CPI due June 10, completing the major labor-and-consumer-inflation picture ahead of the Federal Reserve's June 16–17 meeting.
Economic Data Calendar Converges Before June FOMC
The Bureau of Economic Analysis will release the Q1 GDP second estimate and May PCE inflation data simultaneously at 8:30 a.m. ET on Wednesday, May 28. The twin release provides the clearest read to date on whether growth and inflation are moving in opposite directions as the US economy enters Q2. The data arrives with the May jobs report scheduled for June 5 and May CPI due June 10, completing the major labor-and-consumer-inflation picture ahead of the Federal Reserve's June 16–17 meeting.
Chair Jerome Warsh is expected to hold his first FOMC press conference on June 17, giving markets less than three weeks to digest the inflation and growth trajectory before the central bank signals its policy stance for the second half of 2026.
SpaceX S-1 Filed; Trading as Early as Mid-June
SpaceX filed its public S-1 on May 20, with Reuters reporting a possible raise of approximately $75 billion at a valuation around $1.75 trillion, while other market coverage has discussed valuations approaching $2 trillion. According to Reuters' latest timeline, the company plans to launch its roadshow on June 4, with pricing potentially as early as June 11 and Nasdaq trading as early as June 12 under ticker SPCX. All dates remain subject to SEC review and prevailing market conditions.
Bitcoin Options Positioning Ahead of Expiry
As of May 21, roughly $6.25 billion in Bitcoin options on Deribit were positioned for May 29 expiry, according to CoinDesk. Max pain for the contract stood at $75,000, with the $80,000 call strike holding approximately $532 million in notional value.
Why It Matters
For Traders
A hawkish or dovish GDP and PCE read on May 28 could drive intraday volatility in BTC and broader risk assets ahead of the May 29 options expiry at $75,000 max pain.
For Investors
The convergence of macro data and first Fed guidance under Chair Warsh will signal the policy backdrop for risk-on sentiment in crypto and equities through Q2 and into summer.
For Builders
A major shift in Fed policy tone or inflation trajectory could shift institutional capital flows into or away from crypto risk-on strategies, affecting staking yields and DeFi borrowing costs.
