US stock and bond markets will be closed Monday for Memorial Day. A handful of major companies reported later this week, with the highlight of the economic data being jobs on Friday.
com will report on Tuesday, followed by Chewy,
Hewlett Packard Enterprise
will be the highlights of Thursday’s results.
Several annual general meetings are also scheduled for this week, including Alphabet,
on Wednesday and
It will be a busier week for economic data. Friday will bring the employment report for May from the Bureau of Labor Statistics. The average economist forecast is for a gain of 317,500 non-farm jobs and an unemployment rate of 3.5%.
Other data released this week will include the Conference Board’s Consumer Confidence Index for May on Tuesday, followed by the ISM Manufacturing Purchasing Managers’ Index for May on Wednesday. The May services PMI will be released on Friday.
Equities and fixed income securities markets are closed on Memorial Day.
HP Inc. and Salesforce.com announce their results.
The Supply Institute Management publishes its Chicago Business Barometer for the month of May. The consensus estimate is for a reading of 56.8, slightly higher than April’s 56.4.
The conference board publishes its consumer confidence index for the month of May. Economists forecast a 4.7% month-on-month decline to 102. That would be the lowest reading in the index since February 2021. Retail spending remained robust, although consumer confidence declined.
Chewy, GameStop, Hewlett Packard Enterprise,
and PVH publishes its quarterly results.
hold investor meetings.
Alphabet, Comcast, NXP Semiconductors and Walmart hold their annual shareholder meetings.
The Labor Office Statistics releases its survey of job vacancies and labor turnover. Expectations are for 11.4 million job openings on the last business day of April, slightly less than March’s 11.55 million, which was a record. The labor market remains very tight, but more and more companies have recently announced layoffs or hiring freezes. Amazon.com and Walmart recently said they were overstaffed.
The ISM publishes its index of manufacturing purchasing managers for the month of May. The consensus estimate is for a reading of 54.8, roughly on par with the April figure, which was the lowest since September 2020.
Cos., CrowdStrike Holdings, Hormel Foods, Lululemon Athletica and Okta are holding conference calls to discuss earnings.
Netflix, Nvidia and PayPal Holdings have their annual shareholders meeting.
ADP press releases its May national jobs report. Private sector employment is expected to have increased by 350,000 jobs after gaining 247,000 in April. The private sector has created 1.1 million net jobs since the start of the pandemic, according to ADP.
BLS press releases the May employment report. The economy is expected to add 317,500 non-farm jobs, following a gain of 428,000 in April. The unemployment rate should drop slightly from 3.6% to 3.5%, which would correspond to a half-century low.
is hosting its 2022 Investor Day in New York. The company will update its financial outlook at the meeting.
ISM press releases its Services Purchasing Managers Index for the month of May. Economists forecast a reading of 56, about a point lower than April’s figure.
Write to Nicholas Jasinski at [email protected]