What will drive the markets this week?
Investors closed April on a high note as the major indices notched substantial monthly gains and despite stocks falling on last day of trading on fears that strong data may cause the Federal Reserve to ease back on monetary policy sooner than expected.
The earnings season continues this week, with over 900 fiscal reports expected from retailers, Big Pharma, energy companies, and consumer staples.
Earnings have so far come much better than expected with profits beating analysts’ estimates by more than 40% and revenue by over 20%. Still, most companies are not seeing their stocks rise on better results, and investors may be selling on the news and taking some healthy profits with them.
Investors will also digest the April employment report for the U.S, and other data from across the world.
Monday, May 3:
- Market Holiday in the U.K. for Bank Holiday and in Japan for Constitution Day.
- German Retail Sales (March).
- German Manufacturing Purchasing Managers’ Index (PMI) (April).
- French Manufacturing PMI (April).
- Italian Manufacturing PMI (April).
- Eurozone Manufacturing PMI (April).
- U.S. Manufacturing PMI (April).
- U.S. Institute for Supply Management (ISM) Manufacturing PMI (April).
- Chinese Caixin Manufacturing PMI (April).
Tuesday, May 4:
- Pfizer Reports Earnings.
- Market Holiday in Japan for Greenery Day.
- U.K. Manufacturing MI (April).
- U.S. Trade Balance (March).
- Canadian Trade Balance (March).
- U.S. Factory Orders (March).
Wednesday, May 5:
- Virgin Galactic Reports Earnings.
- Market Holidays in Japan and South Korea for Children’s Day.
- Eurozone Services PMI (April).
- German Services PMI (April).
- French Services PMI (April).
- Italian Services PMI (April).
- U.S. Services PMI (April).
- U.S. ISM Non-Manufacturing PMI (April).
- U.S. ADP Nonfarm Employment Change (April).
- Chinese Caixin Services PMI (April).
- Japanese Services PMI (April).
Thursday, May 6:
- Earnings: Uber, Kellog’s, Square, Moderna, and Roku.
- German Factory Orders (March).
- German IHS Market Construction PMI (April).
- U.K. Services and Composite PMIs (April).
- Eurozone Retail Sales (March).
- Bank of England Interest Rate Decision and Monetary Policy Announcements.
- Chinese Trade Balance (April).
Friday, May 7:
- German Trade Balance (March).
- German Industrial Production (March).
- U.K. Construction PMI (March).
- Mexican Consumer Price Index (April).
- Brazilian Retail Sales (March).
- U.S. Nonfarm Payrolls (April).
- U.S. Labor Force Participation Rate (April).
- U.S. Unemployment Rate (April).
- Canadian Unemployment Rate (April).
- Canadian Ivey PMI (April).
- Japanese Household Spending (March).