The Week Ahead

by Geoff Garbacz | 05/31/2022 4:40 PM
The Week Ahead

Most stock indexes rose this past week across the board, it was a miracle after 7 weeks in decline as the sellers took an off week.

1.Geopolitical and Fiscal Events. The key issue remains how the Russian invasion of Ukraine progresses as the Russians contemplate how they are going to proceed. The President met with the Federal Reserve Chairman today.

2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and S&P Case Shiller Home Price Index, Chicago PMI, Consumer Confidence, ISM Manufacturing Index, Construction Spending, Federal Reserve Beige Book, ADP Employment Report, Factory Orders, Nonfarm Payrolls and the Unemployment Rate and ISM Non-Manufacturing Index.

3.Earning Releases. Notable releases this upcoming week include CRM HPQ NTAP HPE LULU CRWD HRL COO.

Monday, May 30th

U.S. markets are closed for Memorial Day observances.

Tuesday, May 31st

March S&P Case Shiller Home Price Index was out at 9:00 a.m. EDT and was expected to fall to 20% from 20.30% but came in at 21.20%.

May Chicago PMI was due out at 9:45 a.m. EDT and came in at 60.3 from estimates of 55.5.

May Consumer Confidence was out at 10:00 a.m. EDT and came in at 106.40 from estimates of 103.70 and the last report was 108.60.

Wednesday, June 1st

May ISM Manufacturing PMI is due out at 8:30 p.m. EDT and is expected to fall to 54.90% from 55.4%.

April Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 0.6% from 0.1%.

The latest Federal Reserve Beige Book for May is due out at 2:00 p.m. EDT.

Thursday, June 2nd

May ADP Employment Report is due out at 8:15 a.m. EDT and is expected to improve to 295,000 from 247,000.

April Factory Orders are due out at 10:00 a.m. EDT are are expected to fall to 0.7% from 2.2%.

Friday, June 3rd

May Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to fall to 325,000 from 428,000. The unemployment rate is expected to drop to 3.5% from 3.6%

May ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 56.6% from 57.1%.

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