Investors Brace for Week Ahead: Economic Data and Earnings to Shed Light on Consumer Health

The upcoming week is set to be a busy one for traders and investors, as they await significant economic data and corporate earnings. These will offer further clarity on the state of consumer health in a climate of escalating interest rates. Topping the list of economic announcements is the retail sales data, due for release tomorrow. After a dip of -1.0% last month, analysts are optimistic, forecasting a rebound with a month-on-month increase of 0.7%.


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Noteworthy Economic Reports to Emerge This Week

The week kicks off with Monday’s Empire State Manufacturing Data. Tuesday will follow with a stream of economic updates, including Industrial Production, Business Inventories, and the Housing Market Index. Housing figures continue to take centre stage on Wednesday, with data on housing permits and starts, along with the Mortgage Bankers Association (MBA) figures. On Thursday, investors should watch out for weekly Jobless Claims, the Philly Fed report, Existing Home Sales, and E-commerce Retail Sales. The week wraps up on Friday with a speech from Federal Reserve Chair Jerome Powell. In addition, throughout the week, we will hear from various Federal Reserve speakers, all of whom are likely to give hints about what to expect from the upcoming June Federal Open Market Committee (FOMC) meeting.

Big-Name Earnings Reports to Look Forward To

When it comes to earnings, the spotlight will be on retail heavyweights such as Walmart (WMT), Target (TGT), Home Depot (HD), and Foot Locker (FL). Also reporting earnings will be Baidu (BIDU), TJX Companies (TJX), Cisco (CSCO), Ross Stores (ROST), and Deere (DE). Their financial results will provide additional insight into how consumers are faring in this environment of high inflation.


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Debt Ceiling Negotiations and Market Indicators to Watch

Lastly, as discussions about the debt ceiling continue, it’s worth keeping an eye on the U.S. dollar. It’s currently near a year low, even as other currencies like the British pound and the euro are gaining strength. Crude oil prices have been stable, fluctuating between $65 and $75 a barrel over the past couple of weeks, while gold remains robust, staying above the $2000 mark as the week gets underway.


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