What will drive the markets this week?
Global equities closed mixed last week in a volatile session that saw major indices continue their weekly losses, driven by inflation and a series of disappointing retail earnings reports from major retailers, including Walmart and Target.
Meanwhile, bond yields continued to rally as growing concerns over the risk of a recession pushed demand for Treasurys and other safe-haven assets.
This week, markets will expect more earning reports from companies across sectors, including Zoom, AutoZone, Best Buy, Nvidia, Costco, and Alibaba. Economic data, including consumer and business sentiment, housing market and purchasing managers index (PMI) readings, will also be released.
Monday, May 23:
- Earnings reports from Zoom and Advance Auto Parts
- Chicago Fed National Activity Index (April)
Tuesday, May 24:
- Earning reports from Intuit, Agilent Technologies, AutoZone, Best Buy, Trip.com, and Nordstrom.
- S&P Global Composite PMI Survey - Flash Estimate (May)
- New Home Sales (April)
Wednesday, May 25:
- Earnings report from NVIDIA.
- FOMC Meeting Minutes
- U.S. Durable Goods Orders (April)
- Germany Real GDP Growth Rate (Q1 2022)
Thursday, May 26:
- Earnings report from Alibaba, Costco, and Royal Bank of Canada.
- U.S. Real GDP Growth Rate - Second Estimate (Q1 2022)
- Pending Home Sales (April)
- Corporate Profits (Q1 2022)
Friday, May 27:
- Personal Consumption Expenditures (PCE) Price Index (April)
- Personal Income and Spending (April)
- Michigan Consumer Sentiment Index - Final (May)