A quiet but influential week includes PMI readings, Fed speeches, and key housing data
The third full week of May features a lighter economic calendar, but several key events could still move markets. Remarks from Federal Reserve presidents will occur throughout the week, while the manufacturing purchasing managers’ index (PMI) and services PMI will be in focus.
On the earnings front, several major retailers and tech names are on deck. Reports from Home Depot (HD), Palo Alto Networks (PANW), Snowflake (SNOW), Target (TGT), TJX Companies (TJX), Toll Brothers (TOL), and Urban Outfitters (URBN) will offer a closer look at the state of the consumer, enterprise spending, and the housing market.
Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.
Monday, May 19, features a speech from New York Fed President John Williams and the release of U.S. leading economic indicators for April.
Tuesday, May 20, includes a speech from Richmond Fed President Tom Barkin.
Wednesday, May 21, does not feature any major economic events.
Thursday, May 22, brings initial jobless claims for the week ending May 17, the S&P flash U.S. manufacturing and services PMIs for May, existing home sales for April, and another speech from New York Fed President John Williams.
Friday, May 23 wraps up the week with April new home sales data.