What To Expect in the Markets This Week
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Coming up: Federal Reserve officials speak, and Disney, Palantir, and Uber report earnings
Dania Maxwell / Los Angeles Times via Getty Images
Key TakeawaysEarnings reports scheduled from Walt Disney and Warner Bros. Discovery will highlight their streaming services, while Uber and Airbnb earnings will give insight into the gig economy.Apple will host its "Let Loose" product event, in which analysts expect a new iPad launch.Federal Reserve officials will give their assessments of economic conditions in several speaking engagements.Updates on consumer sentiment and lending standards are also scheduled.
Corporate earnings and comments from Federal Reserve speakers highlight a relatively light week for economic data.Palantir Technologies’ (PLTR) earnings report Monday is likely to highlight the company’s work on artificial intelligence (AI), while reports from Walt Disney (DIS) and Warner Bros. Discovery (WBD) will provide an update on the streaming marketplace. Apple (AAPL) will host a product event this week. Several Federal Reserve speakers are on the calendar, including those whose past remarks have unsettled markets. Investors also will receive the latest update on consumer sentiment. Monday, May 6Richmond Fed President Tom Barkin and New York Fed President John Williams deliver remarksSenior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS)Vertex Pharmaceuticals (VRTX), Palantir Technologies, and Microchip Technology (MCHP) report earningsTuesday, May 7Consumer credit (April)Walt Disney, BP (BP), and UBS (UBS) report earningsApple “Let Loose” product eventMinneapolis Fed President Neel Kashkari delivers remarksWednesday, May 8Wholesale inventories (March)Federal Reserve Gov. Lisa Cook delivers remarksToyota Motor (TM), Uber (UBER), Airbnb (ABNB), Anheuser-Busch InBev (BUD), and Shopify (SHOP) report earningsThursday, May 9Initial jobless claims (Week ending May 5)Sun Life Financial (SLF), Roblox (RBLX), Warner Bros. Discovery, and Hyatt Hotels (H) report earningsFriday, May 10Consumer sentiment - preliminary (May)Monthly federal budget (April)Chicago Fed President Austan Goolsbee delivers remarksEnbridge (ENB) and Honda Motor Company (HMC) report earningsStreaming Services, Automakers, Gig Economy Headline Earnings ReportsMarket watchers will get financial updates from major streaming services this week, while automakers, technology firms and gig economy companies are also likely to attract investor attention. In addition this week, Apple will host its “Let Loose” product event on Tuesday. Walt Disney’s earnings report on Tuesday comes after it recently won a battle with activist investors seeking to take seats on the company board. On Thursday, Warner Bros. Discovery seeks to bounce back from its earnings miss last quarter as investors evaluate subscriber levels for its Max streaming service. Palantir Technologies' earnings report on Monday will show whether the data analytics company can continue the success of its AI platform, which helped push the firm’s earnings above expectations in the 2023 fourth quarter. The Wednesday earnings report from Anheuser-Busch InBev will show whether the alcohol distributor has bounced back from a consumer boycott of its Bud Light beer. Wednesday also will feature reports from several “gig economy” businesses. Ride-hailing service Uber reports earnings after it reversed losses from 2022 to produce a net income of nearly $2 billion. Airbnb’s earnings come as the short-term rental provider faces pushback in places like New York City.Investors will get updates from Japanese car makers, with Toyota Motor reporting on Wednesday and Honda Motor releasing its financials on Friday. Toyota’s report comes after it announced a new investment in an electric vehicle (EV) and hybrid vehicle plant, while Honda is exploring an EV partnership with its rival Nissan. Federal Reserve Officials Speak Following Rate DecisionAfter Federal Reserve Chair Jerome Powell said he still expected inflation to decline this year, other Fed officials will take the opportunity this week to express their views on the economy. Investors are closely monitoring remarks from Federal Reserve officials regarding their ideas on the path and timing of interest rate cuts. Starting Monday, investors will hear from Richmond Fed President Tom Barkin and New York Fed President John Williams, who recently presented an uncertain timeline for interest rate cuts. On Tuesday, Minneapolis Fed President Neel Kashkari will deliver remarks, coming after an interview last month that sparked a market sell-off when he speculated about whether interest rates could be cut at all this year amid persistent inflation. Other speakers will include Fed Gov. Lisa Cook and Chicago Fed President Austan Goolsbee. His remarks will come after the Friday release of the Michigan Consumer Confidence survey, which includes data on inflation that is closely watched by Fed officials. Read the original article on Investopedia.
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