Fed Minutes, GDP Could Fuel Rate-Hike Speculation Next Week

Best Buy (BBY), Abercrombie & Fitch (ANF), and Sears Holdings (SHLD) are among the retail stocks that could move after earnings

Patrick Martin
May 18, 2017 at 2:44 PM
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The latest Federal Open Market Committee (FOMC) meeting minutes and estimate on first-quarter gross domestic product (GDP) come out next week. This, along with a host of scheduled Fed speeches, should give traders plenty to chew on as they weigh the odds of a June rate hike. Meanwhile, fresh off the heels of earnings from giants Wal-Mart and Target, retailers will once again be in focus, with Costco Wholesale (NASDAQ: COST), Lowe’s Companies (NYSE: LOW), and Sears Holdings Corp (NASDAQ:SHLD) among the companies due to release their quarterly reports.  

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.

The week kicks off on Monday, May 22, with the Chicago Fed national activity index. Minneapolis Fed President Neel Kashkari and Philadelphia Fed President Patrick Harker will speak. Agilent (A) and Cheetah Mobile (CMCM) will report the first earnings batch of the week.

On Tuesday, May 23, new home sales data will be released, and later in the day, Kashkari, Harker, and Chicago Fed President Charles Evans will speak. AutoZone (AZO), Cracker Barrel (CBRL), Diana Shipping (DSX), DSW (DSW), Intuit (INTU), Kirklands (KIRK), Take-Two Interactive Software (TTWO), and Toll Brothers (TOL) will report earnings.

On Wednesday, May 24, the flash purchasing managers' index (PMI) and existing home sales data will be released, and Kashkari will once again step up to the mic. In addition, the Energy Information Administration (EIA) will present the regularly scheduled update on crude inventories. The highlight of the day will be the FOMC meeting minutes. Advance Auto Parts (AAP), Chico's (CHS), Guess (GES), JA Solar (JASO), LOW, HP Inc (HPQ), NetApp (NTAP), SHLD, Tiffany (TIF), and Williams-Sonoma (WSM) will report earnings.

On Thursday, May 25, the government report on imports and exports will be released, as well as weekly jobless claims. Dallas Fed President Robert Kaplan and St. Louis Fed President James Bullard will speak in the evening. Abercrombie & Fitch (ANF), Best Buy (BBY), Big Lots (BIG), Burlington Stores (BURL), Costo Wholesale (COST), Deckers Outdoor (DECK), Dollar Tree (DLTR), Gamestop (GME), JinkoSolar (JKS), Marvell Technology (MRVL), and Medtronic (MDT) report earnings.

Wrapping the week up on Friday, May 26 will be the latest estimate on first-quarter GDP, May consumer sentiment stats, and data on durable goods orders. There are no earnings of note.


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