The Week Ahead For May 3rd to May 7th

by Geoff Garbacz | 05/02/2021 8:58 PM
The Week Ahead For May 3rd to May 7th

The Russell 2000, Dow Jones Industrial Average and the NASDAQ 100 were all lower. Only the S&P 500 was higher for the week.

1.Geopolitical and Fiscal Events. This week sees the FOMC out with their latest rate decision.

2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as ISM Manufacturing, Construction Spending, Factory Orders, ADP Employment Index, ISM Non-Manufacturing, Nonfarm Payrolls and Unemployment rate.

3.Earnings Releases. Notable releases this upcoming week include EL EPD PFE TMUS PYPL UBER BUD SQ CI ENB.

Monday, May 3rd

April ISM Manufacturing Index is due out at 9:45 a.m. EDT and is expected to rise to 66% from 65.3% in February.

March Construction Spending is due out at 10:00 A.M. EDT and is expected to rise by 1/8% from -0.8%.

Tuesday, May 4th

March Factory Orders is due out at 10:00 a.m. EDT and is expected to rise to 0.7% from -0.8%.

Wednesday, May 5th

April ADP Employment Index is due out at 8:15 a.m. EDT and is expected to rise by 810,000 from 517,000.

April ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and is expected to rise to 65% from 63.7%.

Thursday, May 6th

No events of note.

Friday, May 7th

April Nonfarm Payroll is due out at 8:30 a.m. EDT and is expected to rise to 1,000,000 from 916,000 while the unemployment rate is expected to drop to 5.8% from 6%..

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