Next week will bring a lighter economic calendar, though traders will still be watching several housing-related reports, fresh purchasing managers index (PMI) data, and the release of the Federal Reserve’s latest meeting minutes. Markets will also get updated readings on consumer sentiment and leading economic indicators later in the week. Headlining earnings next week will be tech stalwart Nvidia (NVDA).
On the earnings front, Baidu (BIDU), CAVA Group (CAVA), e.l.f Beauty (ELF), Home Depot (HD), Lowe's (LOW), Take-Two Interactive (TTWO), Target (TGT), TJX (TJX), Toll Brothers (TOL), Urban Outfitters (URBN), and Walmart (WMT) are all scheduled to report.
Below is the schedule of key market events for the week ahead. All economic dates are tentative and subject to change.
Monday, May 18 has no major economic reports scheduled.
Pending home sales data is due out Tuesday, May 19.
Wednesday, May 20, features the release of the minutes from the Federal Open Market Committee's (FOMC) May meeting.
Thursday, May 21, brings weekly initial jobless claims, housing starts, building permits, and the Philadelphia Fed manufacturing survey. The session will also feature S&P flash U.S. services PMI and manufacturing PMI data.
Consumer sentiment data and U.S. leading economic indicators are slated for Friday, May 22.
