Investors on Wall Street are gearing up for a busy week ahead as they await key economic data and corporate earnings reports that could impact the market.
One of the major economic data points that investors will be closely watching is the release of the Consumer Price Index (CPI) for April, as well as US retail sales figures for the same month. These data points have the potential to influence the Federal Reserve’s monetary policy decisions.
In addition to the economic data, investors will also be keeping an eye on a number of corporate earnings reports. Retail giant Walmart and Home Depot are among the companies scheduled to report their quarterly earnings in the coming week.
Tech events are also on the agenda, with Microsoft-backed OpenAI expected to announce updates and Alphabet’s Google set to hold its annual I/O developer conference. Google is expected to showcase its latest AI tools and enhancements to products during the conference.
Last week, US equity markets saw gains on Friday, driven by strong corporate earnings and hopes of Federal Reserve interest rate cuts. The Dow Jones Industrial Average rose 0.32%, the S&P 500 gained 0.17%, and the Nasdaq Composite eased 0.03%.
The US dollar rose against the Japanese yen, while the euro fell slightly. The yield on the 10-year Treasury also saw an increase.
In the commodities market, the benchmark US crude oil and Brent crude both saw losses, while gold and silver prices rose.
Overall, investors will be closely monitoring the economic data, corporate earnings, and tech events in the week ahead as they navigate the ever-changing market conditions.
