It’s the last major week of first-quarter earnings season, with numerous retailers and tech companies left to report. Urban Outfitters,AutoZone,and Nordstrom get things going on Tuesday, followed by American Eagle Outfitters,Dick’s Sporting Goods,and Abercrombie & Fitchon Wednesday. On Thursday, Dollar General,Dollar Tree,Ulta Beauty, Best Buy,Gap,and CostcoWholesale release results.
Non-retail names scheduled to release earnings this week include Intuitand Toll Brotherson Tuesday. The next two days will be packed with tech and software-company earnings: Nvidia,Okta, Snowflake, and Workday report on Wednesday, followed by Dell Technologies,Box, HP,and Salesforceall on Thursday.
Economic data out this week include the Conference Board’s Consumer Confidence Index for May on Tuesday and the Commerce Department’s preliminary durable goods orders for April on Thursday. The latter is often viewed as a decent proxy for business investment.
On Friday, all eyes will be on the Bureau of Economic Analysis’ personal income and expenditure report for April. The figures are expected to remain volatile, with income seen dropping 16% from March, when it jumped 21.1%. And spending seen ticking up 0.4% month over month, after a 4.2% rise in March.
Monday 5/24
America’s Car-Martand Nordson will release quarterly earnings after the close of the market and hold earnings calls on Tuesday, May 25.
J.P. Morgankicks off its three-day virtual Global Technology, Media, and Communications conference featuring companies in sectors such as hardware, semiconductors, and media.
Tuesday 5/25
Urban Outfitters, AutoZone, Cracker Barrel Old Country Store,Intuit, Toll Brothers, Agilent Technologies,and Nordstrom are among companies announcing quarterly financial results.
The Census Bureaureports sales of new single-family houses for April. Consensus estimate is for a seasonally adjusted annual rate of 955,000 homes sold vs. 1,021,000 home sales in March.
The Conference Boardreleases its Consumer Confidence Index for May. The consensus estimate is for a 120 reading, below April’s 121.7.
Investors will lookfor more signs of this year’s U.S. housing-market strength.The S&P CoreLogicCase-Shiller 20-City Index is expected to rise 1.5% in March, a tick higher than February’s 1.2% gain.
Liberty Mediaand ViacomCBShold annual shareholder meetings.
Wednesday 5/26
Exxon Mobilshareholders are set to vote on whether to shake up the oil giant’s board in a heated ESG battle, as its proxy advisor is backing an activist’s nominees.
American Eagle Outfitters, Dick’s Sporting Goods, Abercrombie & Fitch, Designer Brands, Nvidia, Okta, Snowflake, e.l.f. Beauty,and Workday are among companies hosting quarterly earnings calls.
Thursday 5/27
Dollar General, Dollar Tree, TD Bank Group,Dell Technologies, Ulta Beauty, Best Buy, Box, Salesforce, HP Inc., Lions Gate Entertainment,Medtronic,Burlington Stores,Gap, and Costco Wholesale are some of the companies discussing financial results.
The National Associationof Realtors reports its Pending Home Sales Index for April. Expectations are for a 0.82% rise, after a 1.9% jump in March.
The Commerce Departmentreports preliminary new orders for durable goods, or items meant to last at least three years, for April. Estimates call for a 0.75% seasonally adjusted increase, slightly less than March’s 1% rise.
Friday 5/28
The BEA reportspersonal income and expenditures for April. Income is expected to drop 16% month over month, while spending is seen increasing 0.40%. This compares with increases of 21.1% and 4.2% in March.
The Institute for SupplyManagement releases its Chicago Business Barometer for May. Economists forecast a 70 reading, lower than April’s 72.1 figure, which was the highest since December 1983.
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