- Wall Street investors are set to focus on the senior loan officer opinion survey from the US Federal Reserve and the preliminary consumer sentiment data for May in the upcoming week.
- Major earnings reports from Tyson Foods, Disney, Uber Technologies, and Warner Bros. Discovery will also be under the spotlight.
- Last week saw the US Fed maintain its interest rate after a two-day monetary policy meeting.
Wall Street gears up for a week of key economic data and major earnings reports, with the US Fed’s senior loan officer opinion survey and preliminary consumer sentiment data for May taking center stage.
Economic Events to Watch
On May 7 (Tuesday), the US central bank will release a report on consumer credit for March. May 10 (Friday) will see the release of data on preliminary consumer sentiment for May, providing insights into consumer confidence and potential spending trends.
Major Earnings Reports
Investors will closely watch the quarterly earnings reports from Tyson Foods, Vertex Pharmaceuticals, Palantir, Realty Income, Disney, McKesson, Ferrari, GlobalFoundries, Coupang, Electronic Arts, Rivian Automotive, Datadog, Uber Technologies, Anheuser-Busch InBev, Airbnb, Shopify, Arm, Energy Transfer, Trade Desk, Beyond Meat, Affirm, AMC Entertainment, Warner Bros. Discovery, US Foods, Hyatt Hotels, Roblox, Dropbox, Genpact, AMC Networks, and Enbridge.
Tech Events
Apple is scheduled to hold an event on Tuesday to showcase new iPad products and hardware accessories. IBM’s Red Hat will hold its annual summit in Denver, Colorado on May 6-9, potentially unveiling new software and technology developments.
US Market Performance Last Week
US stock markets closed higher on Friday after a softer-than-expected jobs report. The Dow Jones Industrial Average rose 450.02 points, or 1.18 per cent, to 38,675.68, the S&P 500 gained 63.59 points, or 1.26 per cent, to 5,127.79 and the Nasdaq Composite added 315.37 points, or 1.99 per cent, to 16,156.33.
Conclusion
With a relatively quiet economic calendar, Wall Street will focus on key data releases and earnings reports in the week ahead. The performance of these indicators could provide further insights into the health of the US economy and potential market trends.
