Fed Budget, Retail Earnings on Deck

More economic data is set to be unpacked over the week

Deputy Editor
May 7, 2020 at 10:15 AM
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The second week of May will be chock full of economic data to guide speculators on how the economy is faring amid the current COVID-19 crisis. A new Federal budget will be announced, weekly jobless claims will be unpacked, and the NFIB Small-Business Index will clue in on how larger corporations taking advantage of the generous small-business stimulus guidelines. There's plenty of earnings to be taken in as well, including much anticipated reports from Alibaba (BABA), Cardinal Health (CAH), Tilray (TLRY), Under Armour (UAA), and JD.com (JD).

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

Monday, May 11 kicks the week off on a slow note with no notable economic reports. Bluebirdbio (BLUE), Cardinal Health (CAH), Cleveland-Cliffs (CLF), Logitech (LOGI), Mylan NV (MYL), TLRY, Under Armour will report earnings.

Momentum will pick up on Tuesday, May 12 with the Fed budget, as well as with data from the Core Consumer Price Index (CPI) and NFIB Small-Business Index. On the earnings agenda for the day are 8x8 (EGHT), Allegiant Travel (ALGT), Duke Energy (DUK), Honda Motor (HMC), and Intelsat (I).

Things will slow down a bit on Wednesday, May 13 as the only item on the economic docket is the Producer Price Index (PPI). Meanwhile, Alibaba, Cisco Systems (CSCO), Dillard's (DDS), and SmileDirectClub (SDC) will step into the earnings confessional.

Due out Thursday, May 14 is data on weekly jobless claims and the Import Price Index. Applied Materials (AMAT), Children's Place (PLCE), Denny's (DENN), First Majestic Silver (AG), NortonLifeLock (NLOK), and SSR Mining (SSRM) will throw their hats into the earnings ring.

Closing out the week, Friday, May 15 will be packed with retail sales, industrial production, the Job Opening and Labor Turnover Survey (JOLTS), consumer sentiment index, and the Empire State manufacturing index. Lastly, JD.com and V.F. Corp (VFC) will report earnings.


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