As the recent Consumer Price Index (CPI) and Producer Price Index (PPI) data fades into the background, investors now direct their attention towards a plethora of Federal Reserve updates. Alongside these, the forthcoming Services and Manufacturing Purchasing Managers Index (PMI) reports will offer a valuable gauge of economic growth or contraction.
This week’s earnings calendar is packed with renowned retail companies, including the likes of AutoZone (AZO), BJ’s Wholesale (BJ), Lowe’s (LOW), Macy’s (M), Petco Health and Wellness (WOOF), Ralph Lauren (RL), Ross Stores (ROST), Target (TGT), TJX, and Urban Outfitters (URBN). On the tech front, Nvidia (NVDA), Palo Alto Networks (PANW), Snowflake (SNOW), V.F. Corp (VFC), Workday (WDAY), and Zoom Video (ZM) are set to announce their earnings.
Upcoming Market Events
Below is a rundown of key market occurrences slated for the upcoming week. Kindly note that all economic dates mentioned are provisional and subject to change.
Tuesday, May 21
Tuesday will see a panel discussion featuring various Federal Reserve presidents, including Loretta Mester of Cleveland, Raphael Bostic of Atlanta, and Susan Collins of Boston.
Wednesday, May 22
On Wednesday, expect to receive existing home sales data and minutes from the Federal Open Market Committee’s (FOMC) May meeting.
Thursday, May 23
Thursday brings forth job-related data, services and manufacturing PMI figures, new home sales data, and a speech from Bostic.
Friday, May 24
Wrapping up the week, Friday will reveal durable goods data and consumer sentiment figures.
