U.S. stock and bond markets will be closed Monday for Memorial Day. A handful of major companies report later this week, with the economic-data highlight being jobs Friday.
com will report on Tuesday, followed by Chewy,
Hewlett Packard Enterprise
will be Thursday’s earnings highlights.
There are also several annual shareholders meetings scheduled for this week, including Alphabet,
on Wednesday and
It will be a busier week for economic data. Friday will bring the jobs report for May from the Bureau of Labor Statistics. Economists’ average forecast is for a gain of 317,500 nonfarm payrolls and for an unemployment rate of 3.5%.
Other data out this week will include the Conference Board’s Consumer Confidence Index for May on Tuesday, followed by the ISM’s Manufacturing Purchasing Managers’ Index for May on Wednesday. The Services PMI for May will be out on Friday.
Equity and fixed-income markets are closed in observance of Memorial Day.
HP Inc. and Salesforce.com announce earnings.
The Institute for Supply Management releases its Chicago Business Barometer for May. Consensus estimate is for a 56.8 reading, slightly higher than April’s 56.4.
The Conference Board releases its Consumer Confidence Index for May. Economists forecast a 4.7% month-over-month decline to 102. That would be the lowest figure for the index since February 2021. Retail spending has remained robust, even as consumer confidence has waned.
Chewy, GameStop, Hewlett Packard Enterprise,
and PVH release quarterly results.
hold investor meetings.
Alphabet, Comcast, NXP Semiconductors, and Walmart host their annual shareholder meetings.
The Bureau of Labor Statistics releases its Job Openings and Labor Turnover Survey. Expectations are for 11.4 million job openings on the last business day of April, slightly fewer than the 11.55 million in March, which was a record. The labor market remains very tight, but more and more companies have recently announced layoffs or hiring freezes. Both Amazon.com and Walmart recently said that they were overstaffed.
The ISM releases its Manufacturing Purchasing Managers’ Index for May. Consensus estimate is for a 54.8 reading, roughly even with the April figure, which was lowest since September 2020.
Cos., CrowdStrike Holdings, Hormel Foods, Lululemon Athletica, and Okta hold conference calls to discuss earnings.
Netflix, Nvidia, and PayPal Holdings have their annual meeting of shareholders.
ADP releases its National Employment Report for May. Private-sector employment is expected to have increased by 350,000 jobs after a gain of 247,000 in April. The private sector has added 1.1 million net jobs since the start of the pandemic, according to ADP.
The BLS releases the jobs report for May. The economy is expected to add 317,500 nonfarm jobs, after a gain of 428,000 in April. The unemployment rate is seen edging down from 3.6% to 3.5%, which would match a half-century low.
hosts its 2022 investor day in New York. The company will update its financial outlook at the meeting.
ISM releases its Services Purchasing Managers’ Index for May. Economists forecast a 56 reading, about one point less than the April figure.
Write to Nicholas Jasinski at email@example.com