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The first-quarter earnings season closed this week, but more than a dozen
S&P 500
The rest of the company report. Economists will look at the latest Federal Reserve meeting minutes and data on consumer income and expenditure and business investment.
Advance auto parts
And
Zoom video communication
Monday’s highlight will be, followed by
Autozone
,
Good shopping
,
And
Toll Brothers
On tuesday.
Dick’s Sporting Goods
,
Nvidia
,
And
Snowflake
Reported Wednesday.
Thursday will be busy: Alibaba Group Holding,
Costco
Wholesale,
Dell Technologies
,
Dollar General
,
Dollar tree
,
The gap
,
Messi
,
And
Inverted beauty
All reports.
There will also be several investor days and annual shareholder meetings this week, including
JP Morgan Chase
Monday and
Chevron
,
Exxon Mobil
,
Meta platform
,
Twitter
,
And
United Airlines Holdings
On wednesday
The economic-data release this week will include the May Manufacturing and Service Purchasing Directors Index on Tuesday and the Census Bureau’s Sustainable Products report on Wednesday. Personal income and April spending data from the Bureau of Economic Analysis will be released on Friday.
Finally, the minutes of the Federal Open Market Committee’s first-May monetary policy meeting will be released on Wednesday. Officials at that meeting raised the Fed’s benchmark interest rate target by half a percentage point and unveiled plans to begin reducing the size of the central bank’s balance sheet.
Monday 5/23
Advanced Auto Parts and Zoom Video Communications report quarterly results.
JPMorgan Chase hosts its 2022 Investor Day. Shares of the largest U.S. bank have fallen 26% this year, performing six percentage points lower on the KBW Bank Index, partly due to concerns about rising costs without obvious benefits.
Tuesday 5/24
Agilent Technologies
,
Autozone, Best Buy,
Intuit
,
Ralph Lauren, and the Toll Brothers have announced earnings.
Census Bureau Residential sales statistics report for April. The consensus estimate is that 750,000 new single-family homes have been sold for a seasonally consistent annual rate, down slightly from 763,000 in March.
S&P Global Release Both its Manufacturing and Services Purchasing Managers’ Index for the month of May. The manufacturing PMI is expected to be 57.8 readings, while the services PMI is expected to come in at 57. This compares to 59.2 and 55.6 in April, respectively.
Wednesday 5/25
Nvidia reports first quarter fiscal year 2023 results Shares of the largest U.S. semiconductor company in terms of market value have fallen 43% this year, as investors have fled high-multiple growth stocks.
Bank of Montreal, Bank of Nova Scotia, Dick’s Sporting Goods, DXC Technology, and Snowflake publish quarterly results.
Black rock
,
Chevron, Exxon Mobil, Meta Platform, Twitter and United Airlines Holdings hold their annual shareholder meetings.
Federal Open Market The committee released the minutes of its monetary policy meeting in early May.
Census Bureau Releases Sustainable Products Report. Economists forecast that orders for durable goods produced in April rose 0.7% to 27 277 billion a month.
Thursday 5/26
Alibaba Group Holding,.
Burlington Stores
,
Canadian Imperial Bank of Commerce
,
Costco Wholesale, Dell Technologies, Dollar General, Dollar Tree, Gap, Mass.,
Marvel technology
,
Medtronic
,
Toronto-Dominion Bank
,
Conference calls to discuss Alta Beauty, and workday earnings.
Bureau of Economic Affairs The analysis reports its second estimate for the first-quarter gross domestic product. The consensus estimate is that GDP fell 1.4% year-on-year, consistent with the season, unchanged from the BEA’s advance estimate released in late April.
Friday 5/27
BEA report Personal income and expenditure data for April. Monthly income is expected to increase 0.55%, while personal spending is likely to increase 0.6%. This compares with an increase of 0.5% and 1.1% in March, respectively.
Write Nicholas Jasinski at [email protected]
