By Nicholas Jasinski
It will be the busiest week of first-quarter earnings season, as more than 150 S&P 500 companies are scheduled to publish their results. There will also be the latest jobs data for April and a Federal Reserve decision to look out for.
Domino's Pizza and Paramount Global report on Monday, then Advanced Micro Devices, Amazon.com, Eli Lilly, and Super Micro Computer go on Tuesday. Wednesday's highlights include CVS Health, Etsy, Mastercard, Pfizer, and Qualcomm. Apple, Booking Holdings, ConocoPhillips, Moderna, and Monster Beverage report on Thursday.
On Wednesday afternoon, the Fed's policy Committee is overwhelmingly expected to keep the federal-funds rate unchanged at a target range of 5.25% to 5.50%. At his postmeeting press conference, Chairman Jerome Powell may describe plans to slow the pace of the Fed's balance sheet reduction later this year.
The Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey on Wednesday, which is expected to show 8.7 million job openings on the last business day of March, slightly fewer than in February.
Finally, there will be Jobs Friday. Consensus calls for a gain of 210,000 nonfarm payrolls in April, which would be lower than the 303,000 added in February. The unemployment rate is expected to remain at 3.8%.
Monday 4/29
Domino's Pizza, F5, Franklin Resources, ON Semiconductor, Paramount Global, Revvity, SBA Communications, and Welltower publish quarterly results.
Tuesday 4/30
3M, Advanced Micro Devices, Air Products & Chemicals, Amazon.com, American Tower, Archer-Daniels-Midland, Boston Properties, Caesars Entertainment, CenterPoint Energy, Clorox, Coca-Cola, Corning, Diamondback Energy, Ecolab, Edison International, Eli Lilly, Essex Property Trust, Extra Space Storage, Gartner, GE Healthcare Technologies, Illinois Tool Works, Leidos Holdings, Marathon Petroleum, Martin Marietta Materials, McDonald's, Molson Coors Beverage, Mondelez International, PayPal Holdings, Prudential Financial, $Public Storage(PSA-N)$, Republic Services, Starbucks, Stryker, Super Micro Computer, Sysco, and Zebra Technologies release earnings.
The Conference Board releases its Consumer Confidence Index for April. Economists forecast a 104.0 reading, compared with 104.7 in March.
Wednesday 5/1
Aflac, Albemarle, Allstate, American International Group, APA, C.H. Robinson Worldwide, Corteva, CVS Health, Devon Energy, DuPont de Nemours, eBay, Etsy, First Solar, Generac Holdings, Kraft Heinz, Marathon Oil, Marriott International, Mastercard, MetLife, MGM Resorts International, Norwegian Cruise Line Holdings, Pfizer, PTC, Qorvo, Qualcomm, The Estée Lauder Companies, Ventas, VICI Properties, and Yum! Brands report quarterly results.
ADP releases its National Employment Report for April. The consensus estimate is an increase of 170,000 in private-sector employment, after a gain of 184,000 in March.
The Bureau of Labor Statistics publishes the Job Openings and Labor Turnover Survey. Economists' consensus calls for 8.7 million job openings on the last business day of March, which would be about 100,000 fewer than in February. There are currently 1.3 job openings for every unemployed person, down from a peak above two in 2022.
The Federal Open Market Committee announces a monetary-policy decision. The FOMC is overwhelmingly expected to keep the federal-funds rate unchanged at a target range of 5.25% to 5.50%. Fed officials have said recently that they need to see more evidence of declining inflation before changing interest rates. At his postmeeting press conference, Chairman Jerome Powell may describe the FOMC's plans to slow the pace of its balance sheet reduction later this year.
Thursday 5/2
Amgen, Apple, Booking Holdings, BorgWarner, Cardinal Health, Cigna Group, ConocoPhillips, Coterra Energy, Cummins, DaVita, Digital Realty Trust, Dominion Energy, EOG Resources, Expedia Group, Fortinet, Illumina, Intercontinental Exchange, Iron Mountain, Kellanova, Live Nation Entertainment, Moderna, Monster Beverage, Moody's, Parker-Hannifin, Pioneer Natural Resources, Quanta Services, Regeneron Pharmaceuticals, Stanley Black & Decker, Vulcan Materials, WestRock, Xylem, and Zoetis are scheduled to report.
Friday 5/3
Cboe Global Markets, CBRE Group, and Hershey release earnings.
The Bureau of Labor Statistics releases the jobs report for March. The consensus estimate is for an increase of 210,000 nonfarm payrolls, which would be lower than the 303,000 added in February. The unemployment rate is expected to hold steady at 3.8%. The U.S. labor market has remained surprisingly resilient, with joblessness holding near half-century lows for two years.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
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(END) Dow Jones Newswires
April 29, 2024 13:21 ET (17:21 GMT)
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