The PCE index and the Fed's meeting minutes will be in focus
The last week of May will be a shorter one, with markets closed on Monday to observe Memorial Day. Investors will return to a wave of key economic updates, however, with the Federal Reserve's meeting minutes, retail sales data, and personal consumption expenditure (PCE) readings on tap.
As far as earnings, investors will hear from Abercrombie & Fitch (ANF), AutoZone (AZO), Best Buy (BBY), C3.ai (AI), Capri Holdings (CPRI), Costco Wholesale (COST) Dell Technologies (DELL), Dick's Sporting Goods (DKS), Foot Locker (FL), Kohl's (KSS), Macy's (M), Nvidia (NVDA), Okta (OKTA), Ulta Beauty (ULTA), and Salesforce (CRM).
Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.
The market will be closed on Monday, May 26 for Memorial Day.
Durable goods orders, the S&P CoreLogic Case-Shiller home price index, and consumer confidence data are slated for release on Tuesday, May 27.
Wednesday, May 28 features the Federal Open Market Committee's (FOMC) May meeting minutes.
In addition to jobless claims data, Thursday, May 29 brings a gross domestic product (GDP) revision and pending home sales.
Friday, May 30 packs a heavy economic data punch, with personal income and spending readings on tap, in addition to the PCE and core PCE indexes. U.S. trade balance in goods, retail inventories, and wholesale inventories will be in focus as well, with investors also eyeing the Chicago Business Barometer and consumer sentiment data.