Week Ending May 13, 2923: $172.57 -($1.00) -(0.58%)
May 12, 2023 12:22:05 GMT -8
CdnPhoto, Luckychoices, and 1 more like this
Post by Dave on May 12, 2023 12:22:05 GMT -8
I see that we lost $1.00 this past week. Not bad as it could have been worse.
What to Expect in the Markets Next Week
Events Calendar:
Monday, May 15
Mitsubishi Financial Group (MUFG), Nu Holdings (NU), Ryanair Holdings (RYAAY), XP Inc. (XP), and Catalent (CTLT) report earnings
NY Empire State Manufacturing Index (May)
Tuesday, May 16
Home Depot (HD), Sea Limited (SE), Baidu (BIDU), Vodafone Group (VOD), Keysight Technologies (KEYS), and Tencent Music Entertainment Group (TME) report earnings
U.S. Retail Sales (Apr)
Industrial Production (Apr)
Business Inventories (Mar)
Retail Inventories (Mar)
NAHB Housing Market Index (May)
Euro Area GDP Growth Rate - Second Estimate (Q1 2023)
Japan GDP Growth Rate - Preliminary Estimate (Q1 2023)
Canada Inflation Rate (Apr)
Wednesday, May 17
Cisco Systems (CSCO), TJX Companies (TJX), Target Corporation (TGT), Synopsys (SNPS), Copart Inc. (CPRT), ZTO Express (ZTO), and Take-Two Interactive Software Inc. (TTWO) report earnings
Housing Starts (Apr)
Building Permits (Apr)
Euro Area Inflation Rate - Second Estimate (Apr)
Thursday, May 18
Walmart (WMT), Alibaba (BABA), Applied Materials Inc. (AMAT), Ross Stores (ROST), KE Holdings (BEKE), and Bath & Body Works (BBWI) report earnings
Philadelphia Fed Manufacturing Index (May)
Conference Board Leading Economic Index (Apr)
Existing Home Sales (Apr)
Friday, May 19
Deere & Company (DE) and Foot Locker Inc. (FL) report earnings
2023 G7 Summit in Hiroshima, Japan
Major Retailers Report Earnings
Major retailers including Walmart, Target, Home Depot, and Alibaba will report earnings next week. Walmart, the nation’s largest retailer by revenue, is expected to post earnings per share (EPS) of $1.31, up from $0.74 per share in the year-ago quarter. EPS at Target is projected at $1.80, down from $2.16 a year ago.
On Tuesday, the U.S. Census Bureau will also report on April retail sales, a proxy for consumer spending. Retail sales, which are not adjusted for inflation, likely rose 0.7% last month, rebounding off a 0.6% decline in March. Year-over-year, they are projected to have risen just 1.4%, at the slowest pace since the onset of the pandemic three years ago. Consumers have become increasingly pessimistic about the economy amid rising interest rates, persistently high inflation, and fears about a recession. The University of Michigan’s Consumer Sentiment Index (MCSI), a key barometer of consumer confidence, fell in early May to its lowest level since November.
Housing Market Updates
We’ll get the latest updates on the housing market next week, starting with the NAHB’s Housing Market Index for May on Tuesday. On Wednesday, the Census Bureau will report on April housing starts and building permits, two indicators of home construction and supply. Housing starts are projected to have fallen slightly to 1.4 million units last month, from 1.42 million in March. On Thursday, the National Association of Realtors (NAR) will report on April existing home sales. They’re projected to have fallen to 4.3 million units, down from 4.44 million in March and compared to a peak of 6.34 million units in January 2022.
What to Expect in the Markets Next Week
Events Calendar:
Monday, May 15
Mitsubishi Financial Group (MUFG), Nu Holdings (NU), Ryanair Holdings (RYAAY), XP Inc. (XP), and Catalent (CTLT) report earnings
NY Empire State Manufacturing Index (May)
Tuesday, May 16
Home Depot (HD), Sea Limited (SE), Baidu (BIDU), Vodafone Group (VOD), Keysight Technologies (KEYS), and Tencent Music Entertainment Group (TME) report earnings
U.S. Retail Sales (Apr)
Industrial Production (Apr)
Business Inventories (Mar)
Retail Inventories (Mar)
NAHB Housing Market Index (May)
Euro Area GDP Growth Rate - Second Estimate (Q1 2023)
Japan GDP Growth Rate - Preliminary Estimate (Q1 2023)
Canada Inflation Rate (Apr)
Wednesday, May 17
Cisco Systems (CSCO), TJX Companies (TJX), Target Corporation (TGT), Synopsys (SNPS), Copart Inc. (CPRT), ZTO Express (ZTO), and Take-Two Interactive Software Inc. (TTWO) report earnings
Housing Starts (Apr)
Building Permits (Apr)
Euro Area Inflation Rate - Second Estimate (Apr)
Thursday, May 18
Walmart (WMT), Alibaba (BABA), Applied Materials Inc. (AMAT), Ross Stores (ROST), KE Holdings (BEKE), and Bath & Body Works (BBWI) report earnings
Philadelphia Fed Manufacturing Index (May)
Conference Board Leading Economic Index (Apr)
Existing Home Sales (Apr)
Friday, May 19
Deere & Company (DE) and Foot Locker Inc. (FL) report earnings
2023 G7 Summit in Hiroshima, Japan
Major Retailers Report Earnings
Major retailers including Walmart, Target, Home Depot, and Alibaba will report earnings next week. Walmart, the nation’s largest retailer by revenue, is expected to post earnings per share (EPS) of $1.31, up from $0.74 per share in the year-ago quarter. EPS at Target is projected at $1.80, down from $2.16 a year ago.
On Tuesday, the U.S. Census Bureau will also report on April retail sales, a proxy for consumer spending. Retail sales, which are not adjusted for inflation, likely rose 0.7% last month, rebounding off a 0.6% decline in March. Year-over-year, they are projected to have risen just 1.4%, at the slowest pace since the onset of the pandemic three years ago. Consumers have become increasingly pessimistic about the economy amid rising interest rates, persistently high inflation, and fears about a recession. The University of Michigan’s Consumer Sentiment Index (MCSI), a key barometer of consumer confidence, fell in early May to its lowest level since November.
Housing Market Updates
We’ll get the latest updates on the housing market next week, starting with the NAHB’s Housing Market Index for May on Tuesday. On Wednesday, the Census Bureau will report on April housing starts and building permits, two indicators of home construction and supply. Housing starts are projected to have fallen slightly to 1.4 million units last month, from 1.42 million in March. On Thursday, the National Association of Realtors (NAR) will report on April existing home sales. They’re projected to have fallen to 4.3 million units, down from 4.44 million in March and compared to a peak of 6.34 million units in January 2022.