The Week Ahead For May 2nd to 6th
All stock indexes fell again this past week across the board.
1. Geopolitical and Fiscal Events. The key issue remains how the Russian invasion of Ukraine progresses as the Russians reattack Eastern Ukraine and the Donbas region while threatening nuclear war. Wednesday sees the FOMC out with its latest rate decision.
2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and ISM Manufacturing Index, Construction Spending, Factory Orders, ADP Employment Report, ISM Non-manufacturing Index, Nonfarm payrolls and unemployment rate.
3. Earning Releases. Notable releases this upcoming week include MCO NXPI PFE AMD CVS BKNG COP BUD ENB CI.
Monday, May 2
April ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to improve to 57.9% from 57.1%.
March Construction Spending is due out at 10:00 a.m. EDT and is expected to improve to 0.8% from 0.5%.Tuesday, May 3
April ADP Employment Report is due out at 8:15 a.m. EDT and are expected to drop to 390,000 from 455,000.
April ISM Non-manufacturing Index is due out at 10:00 a.m. EDT and expected to rise to 58.7% from 55.5%.
The Federal Reserve Open Market Committee (FOMC) begins a two day meeting.Wednesday, May 4
March Pending Home Sales are due out at 10:00 p.m. EDT and are expected to improve from a drop of -4.1% to -1.5%.
FOMC is out with its latest decision at 2:00 p.m. EDT and then followed by a press conference at 2:30 p.m. EDT.Thursday, May 5
No events of note.Friday, May 6
April Nonfarm Payrolls are due out at 8:30 a.m. EDT and expected to fall to 395,000 from 431,000.
April Unemployment Rate is due out at 8:30 a.m. EDT as well and is expected to remain 3.60%.
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