The Week Ahead: First-Quarter GDP Punctuates a Short Week

Even with the holiday-shortened week, traders will have plenty of economic data to take in, starting with durable goods orders on Tuesday and ending with the latest first-quarter gross domestic product (GDP) estimate on Friday. Although earnings season is winding down, luxury retailers Michael Kors (KORS) and Tiffany & Co. (TIF) will take the stand, along with Costco Wholesale (COST), Abercrombie & Fitch (ANF) and GameStop (GME), among others. 

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

Monday, May 25

U.S. markets will be closed in observance of Memorial Day.

 

Tuesday's docket includes durable goods orders, the S&P/Case-Shiller home price index, new home sales, the Conference Board's consumer confidence index, and the Dallas Fed manufacturing survey. Autozone (AZO), TiVo (TIVO), and Workday (WDAY) will tell all in the earnings confessional.

 

There are no notable economic reports scheduled for Wednesday. Stepping up to the earnings mic are Chico's (CHS), COST, DSW (DSW), KORS, Palo Alto Networks (PANW), TIF, Tilly's (TLYS), and Toll Brothers (TOL).

 

Weekly jobless claims, pending home sales, and the holiday-delayed crude inventories report are due. Companies slated to report earnings include ANF, Avago Technologies (AVGO), Deckers Outdoor (DECK), GME, JinkoSolar (JKS), OmniVision Technologies (OVTI), Pacific Sunwear (PSUN), Seadrill (SDRL), Splunk (SPLK), and Ulta Salon, Cosmetics & Fragrance (ULTA).

 

The week closes out with the preliminary first-quarter GDP, the Chicago purchasing managers index (PMI), and the Thomson Reuters/University of Michigan consumer sentiment index. The earnings calendar is relatively bare.