Investors on Wall Street are gearing up for a holiday-shortened week ahead, with a focus on key economic events and major earnings reports. The US Federal Reserve’s preferred inflation gauge, the core personal consumption expenditure (PCE) price index, will be closely watched, along with earnings from companies like Dell, Best Buy, and Costco.
The core PCE data has the potential to sway the markets, and investors will be keeping a close eye on how it may impact trading. Additionally, the US stock markets will be closed on Monday in observance of Memorial Day.
On the economic front, reports on the S&P Case-Shiller home price index, consumer confidence data, and first revised GDP data for the first quarter will be released throughout the week. On Friday, personal income data for April and core PCE index data for April will be unveiled.
In terms of earnings, a number of major companies are set to report quarterly earnings, including Box, Bank of Nova Scotia, Salesforce, Best Buy, Costco, and more. The week will also feature the CoinDesk Consensus event, a high-profile cryptocurrency gathering aimed at addressing industry challenges.
Last week, US stocks saw gains on reports of improving consumer outlook on inflation. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all ended the week on a positive note. The US dollar and yields on Treasury bonds saw slight movements, while oil prices rose and gold prices fell.
Overall, the week ahead promises to be eventful for investors, with a mix of economic data releases, earnings reports, and market movements to keep an eye on.
