Company / Analytics

Analytics, 17 May 2021

What will drive the markets this week?

Stocks ended on a high note last week despite volatility and fears of rising inflation. In the US, tech stocks outperformed while in Europe energy and retail sectors led the market.

The earnings season winds down this week and investors will digest reports from major retailers including Walmart, Home Depot, Target & Lowe’s. April saw weaker retail spending and with fears of rising inflation, the market will see whether retail companies plan to raise prices.

On the economic front, investors will parse data on the housing market, including reports on existing home sales, mortgage applications for April. While home prices have been on the rise, mortgage rates have been rising. The market will see how the two have been affecting each other.

On the commodities front, the market is anxious for oil and gas inventory reports, especially following the hacking and shutdown of the Colonial Pipeline and a rally in oil prices last week.

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