Inflation data, Federal Reserve meeting minutes, and first-quarter earnings reports from retailers and chipmakers will be this week’s highlights.
Zoom Video Communications
releases results on Monday, followed by
and Snowflake report on Wednesday.
Thursday will be busy:
and Workday all publish results.
host investor days on Monday, followed by
Thermo Fisher Scientific
on Tuesday and
The Federal Open Market Committee releases the minutes from its early-May monetary-policy meeting on Wednesday. Those will be closely parsed for officials’ discussion of when to pause interest-rate increases.
On Friday, the Bureau of Economic Analysis will report personal income and expenditures for April—both are expected to have risen from March. The release will include the Fed’s preferred inflation measure: The core personal-consumption expenditures price index. That’s forecast to slow from the prior month, to 4.4% year over year.
Other data out this week will include S&P Global’s Manufacturing and Services Purchasing Managers’ Indexes for May on Tuesday. Both measures of economic activity are expected to slip from April. The Census Bureau will also release the durable goods report for April on Friday.
and Zoom Video Communications release earnings.
Ford Motor hosts a capital markets day in Dearborn, Mich.
JPMorgan Chase holds an investor day in New York.
AutoZone, Intuit, Lowe’s,
Palo Alto Networks
report quarterly results.
The Census Bureau releases new residential sales data for April. The consensus estimate is for a seasonally adjusted annual rate of 650,000 new single-family homes sold, 33,000 fewer than in March. Still, new-home sales have rebounded from last summer’s postpandemic low of 543,000.
S&P Global releases both its Manufacturing and Services Purchasing Managers’ Indexes for May. Expectations are for readings of 50 for the Manufacturing
and 52.6 for the Services PMI. Both figures would be slightly below April’s.
reports first-quarter fiscal-2024 results. Shares of the largest semiconductor company by market value are up 114% this year, making it the best performer in the S&P 500 index. Wall Street sees the chip maker as a long-term winner in the emerging artificial-intelligence field.
Analog Devices, Bank of Montreal,
Bank of Nova Scotia
and Snowflake release earnings.
PG&E and Thermo Fisher Scientific hold investor days in San Ramon, Calif., and New York, respectively.
The Federal Open Market Committee releases the minutes from its early-May monetary-policy meeting.
Canadian Imperial Bank of Commerce
Costco Wholesale, Dollar Tree, Marvell Technology,
Ulta Beauty, and Workday hold conference calls to discuss quarterly results.
Zoetis hosts an investor day in New York.
The Bureau of Economic Analysis reports its second estimate of first-quarter gross-domestic-product growth. The consensus call is for a seasonally adjusted annual growth rate of 1.1%, unchanged from the preliminary estimate released in April.
The BEA reports personal income and expenditures for April. Economists forecast both income and spending increases of 0.4%, month over month. This compares with a gain of 0.3% and a flat reading, respectively, in March. The core personal-consumption expenditures price index is seen rising 4.4% year over year, two-tenths of a percentage point less than previously.
The Census Bureau releases the durable goods report for April. New orders for durable manufactured goods are expected to be down 1% from March’s total, to $273.6 billion.