The Week Ahead For April 29th to May 3rd: Federal Reserve Announcement On Wednesday
The NASDAQ 100 was higher as were the S&P 100 and Russell 2000 while the Dow Jones Industrial Average was lower again.
1.Geopolitical and Fiscal Events. The Federal Reserve Open Market Committee begins a two day meeting that concludes on Wednesday with a rate decision and press conference.
2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well personal income, Case Schiller Home Price Index, Chicago PMI, Consumer Confidence, Pending Home Sales, ADP Employment Report, Construction Spending, ISM Manufacturing Index, Factory Orders and nonfarm payrolls.
3.Earnings Releases. Notable releases this upcoming week include GOOGL CNI AAPL MA QCOM ADP DWDP GILD AMT D.
Monday, April 29
March Personal Income is due out at 8:30 a.m. EDT and are expected to rise to 0.4% from 0.2%.
February PCE Price Index and Core PCE Index are due out at 8:30 a.m. EDT and the PCE Price Index is expected to have risen 1.4% year over year, in line with January while the Core PCE Index is at 1.9% in line with January. This is the top economic indicator the Fed tracks so it take on added significant post Friday’s strong Q1 GDP number.
Tuesday, April 30
February Case Schiller Home Price Index is due out at 8:00 a.m. EDT and expected to fall to 3.1% from 3.6%.
April Chicago PMI is due out at 9:45 a.m. EDT and is expected to fall to 58.2 from 58.7.
April Consumer Confidence is due out at 10:00 a.m. EDT and is expected to rise to 127.3 from 124.1.
March Pending Home Sales are due out at 10:00 a.m. EDT and are expected to rise to 1.1% from a drop of -1.0%.
The Federal Reserve Open Market Committee (FOMC) begins a two day meeting that end in a rate decision on Wednesday.
Wednesday, May 1
April ADP Employment Report is due out at 8:15 a.m. EDT and is expected to rise to 170,000 from 129,000.
March Construction Spending is due out at 10:00 a.m. EDT and is expected to fall to 0.1% from 1.0%.
April ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 55 from 55.3.
The Federal Reserve Open Market Committee (FOMC) concludes a two day meeting with a rate decision announcement at 2:00 p.m. EDT follow ed by a press conference at 2:30 p.m. EDT.
Thursday, May 2
March Factory Orders are due out at 10:00 a.m. EDT and is expected to rise to 1.6% from -0.5%.
Friday, May 3
April Nonfarm Payrolls are due out at 8:30 a.m. EDT and are expected to rise to 200,000 from 196,000. The unemployment rate is expected to stay at 3.8%.