Tuesday 5/14
Only a handful of megacap companies report results this week as first-quarter earnings season winds down. Home Depot releases earnings before the opening bell on Tuesday, followed by Cisco Systems after the market close on Wednesday. Applied Materials, Deere, and Walmart announce results on Thursday.
Wednesday 5/15
The Bureau of Labor Statistics releases the consumer price index for April. Consensus estimate is for a 3.4% year-over-year increase, one-tenth of a percentage point less than in March. The core CPI, which excludes volatile food and energy prices, is seen rising 3.6%, compared with 3.8% previously. The battle against inflation has stalled this year, pushing up the yield on the 10-year Treasury note from 3.89% to 4.70% through the end of April. Federal Reserve Chair Jerome Powell's early-May FOMC news conference, where he made it clear that the bar for raising interest rates further was very high, led to yields coming back down to 4.50%.
The Census Bureau releases retail sales data for April. Economists forecast a 0.4% month-over-month increase in retail and food-services sales, to $712 billion. That compares with a 0.7% gain in March. Excluding autos, retail sales are expected to rise 0.2%, following a 1.1% jump previously.
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(END) Dow Jones Newswires
May 10, 2024 21:30 ET (01:30 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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