The first quarter earnings season is drawing to a close, with a flock of retailers on hand to report this week. Tuesday will bring results from
on Wednesday. On thursday,
and Ralph Lauren report.
Non-retail names scheduled to report earnings this week include
Take-Two interactive software
on Thursday and Deere on Friday.
In the economic calendar, this week’s main event will be
Manufacturing and Service Purchasing Managers’ Indices for May on Friday. The two measures of economic activity should remain close to multi-year maximums. The disclosure of the minutes of the meeting of the Federal Open Market Committee at the end of April will also be a highlight on Wednesday.
Other data for this week includes a handful of housing market indicators. On Monday, the National Association of Home Builders launches its NAHB /
May housing market index, followed by the Census Bureau’s new residential construction data for May on Tuesday. Finally, the Conference Board will release its April Leading Economic Index on Thursday.
It’s 2021 tax day. Federal income tax returns for individuals for fiscal 2020 are due today, four and a half weeks later than normal.
The national association of Home Builders releases its NAHB / Wells Fargo Housing Market Index for May. The consensus estimate is a reading of 81.5, slightly below the April figure. The construction companies remain very optimistic about the real estate market.
The Federal Reserve Bank of New York releases its May Empire State Manufacturing Survey. Economists predict a reading of 25, less than April 26.3, which was a three and a half year high for the index.
Home Depot, Macy’s, Take-Two Interactive Software and Walmart announce quarterly results.
holds its 2021 investor meeting.
hosts a conference call to discuss your cardiovascular drugs.
The Census Bureau reports new residential construction data for May. Expectations are for a seasonally adjusted annual rate of 1.7 million homes started, while construction permits are expected to reach 1.75 million. Both estimates are slightly lower than the March data.
Target and TJX Cos. Report earnings.
The Federal Open Market The Committee discloses the minutes of its monetary policy meeting at the end of April.
Fortive webcasts your 2021 virtual investor day.
L Brands, Ralph Lauren and Ross Stores hold conference calls to discuss profits.
hosts your 2021 investor day.
hold its annual shareholders’ meetings.
The Conference Board discloses its April Leading Economic Index. The consensus estimate is for an increase of 1.1% month-on-month, after a 1.3% gain in March. After a stronger than expected growth rate in gross domestic product in the first quarter, the Conference Board now projects a real GDP growth rate of 6.4% for 2021.
report quarterly results.
Markit IHS Reports both the manufacturing and service purchasing managers index for May. Economists predict a reading of 60.5 for the Manufacturing PMI and 64.7 for the Services PMI. Both estimates are practically the same with the April data, which were multi-year highs for both indexes.
Write to Nicholas Jasinski in firstname.lastname@example.org