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Illustration by Robert A. Di Ieso, Jr.
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Brick and mortar retailers make up the bulk of this week's results.
Home Depot
,
TJX
,
Nordstrom, and
Kohl's
will release its first quarter results on Tuesday, followed by Target, Lowe's and
The Brands
Wednesday.
Best buy
and
Ross Stores
will be the highlights of the sale Thursday before
Foot Locker
closes the week on Fridays. Names of non-retailers reporting profits include
Hewlett-Packard Enterprise
,
and
Intuit
all Thursday.
Wednesday afternoon, we publish the minutes of the last meeting of the Federal Open Market Committee. The press conference held on May 1 after the meeting gave rise to an in-depth discussion on keeping inflation low. Federal Reserve observers will pay particular attention to how policy makers have addressed this topic and the appropriate interest rate response.
Economic data released this week include the National Association of Realtors' existing home sales figures for April on Tuesday, the Census Bureau's new home sales data for April on Thursday and the April Census's durable goods orders figures for April. – a decent approximation of investment business – Friday.
Monday 20
Canadian markets are closed for Victoria Day.
The US Federal Reserve Chicago publishes its national activity index for April. Consensus estimates are for a reading of 0.08, up from -0.15 in March.
Consolidated Edison
and
Omnicom Group
hold their annual meetings in New York and Boston, respectively.
hosts its annual meeting of shareholders. It will be online only.
The three-day UBS Global Healthcare Conference kicked off in New York.
Abbott Laboratories
,
Amgen
, and
Regeneron Pharmaceuticals
are some of the companies supposed to present.
Tuesday 21
AutoZone
,
Home Depot, Kohl's, Nordstrom,TJX Cos., and Toll Brothers publish the quarterly results.
Chipotle Mexican Grill
and
JPMorgan Chase
hold their annual shareholder meetings in Newport Beach, California and Chicago, respectively.
The National Association of Realtors publishes data on existing home sales for April. Economists forecast a seasonally adjusted annual rate of 5.3 million euros, up about 2 percent from March's 5.2 million sales.
Wednesday 22
Advance Auto Parts
,
Analog Devices
,
Canadian Imperial Bank of Commerce
,
Ctrip.com International
,The Brands,Lowe's,Target, and VF declares the winnings.
Federal open market committee publishes minutes of its monetary policy meeting that ended early this month
Amazon.com
holds annual meeting of shareholders in Seattle.
Nvidia
and
PayPal Holdings
hold their annual shareholder meetings online.
Thermo Fisher Scientific
and LPL Financial Holdings hold their analyst days in New York.
Thursday 23
Autodesk
,
Best buy, Hewlett Packard Enterprise,Intuit,
Medtronic
, and Ross Stores publish quarterly results.
The Census Bureau publishes data on new home sales for April. A seasonally adjusted annual rate of 678,000 sales of new single-family homes is expected, lower than the 692,000 recorded in March.
IHS Markit
publishes its composite index of US purchasing managers for May. Consensus estimates are for a reading of 53, almost even with the April data.
The Ministry of Labor reports the first claims for Employment Insurance benefits for the week ending May 18. We expect 215,000 requests. The four-week moving average is 225,000.
DowDuPont
hold a special meeting of shareholders in Wilmington, Delaware, to approve a share consolidation. The company is looking for a stock-to-retrocession ratio of at least 2 for 5 and at most 1 for 3.
BlackRock and
Morgan Stanley
hold their annual meetings of shareholders in New York and Purchase, N.Y., respectively
Whirlpool is holding an investor day in New York.
Friday 24
Foot Locker is hosting a conference call to discuss the benefits.
The Census Bureau releases its report on durable goods for April. New durable goods orders are expected to decrease by 2% after a 2.8% increase in March. Excluding transportation equipment, durable goods orders are expected to increase by 0.3%, at about the same pace as March.
Highlight of the week
Thursday 23 The United Kingdom is holding European parliamentary elections. The vote in the 27 other EU member states runs from four days until Sunday.
– Robert Teitelman and Dan Lam
E-mail: [email protected]
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