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What to Watch in the Week Ahead and on Monday, May 20

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A plethora of Federal Reserve speakers are scheduled to speak on the day. Federal Reserve Bank of Atlanta President Raphael Bosticis expected to give welcome remarks before the 2024 Financial Markets Conference hosted by the Federal Reserve Bank of Atlanta (0845 /1245), following which Fed’s Vice Chair for Supervision Michael Barris scheduled to speak on "Bank Supervision and Regulation" at the same conference (0900/1300). At the same event, Bostic is also expected to serve as moderator at the dinner session later in the day (1900/2300). Separately, Fed’s Board Governor Christopher Walleris likely to give welcome remarks before the Third Conference on the International Roles of the U.S. Dollar hosted by the Federal Reserve (0900/1300). Furthermore, Fed’s Vice Chair Philip Jeffersonis likely to speak on "The U.S. Economy and Housing Price Dynamics" before the Mortgage Bankers Association (MBA) Secondary and Capital Markets Conference (1030/1430).

At JPMorgan Chase's investor day, shareholders will likely focus on the bank's growth strategy and succession plans. CEO Jamie Dimonand President Daniel Pintoare among the key executives set to present. Dimon has run the largest U.S. lender for more than 18 years, and his next steps have been the subject of speculation for years.

Microsoft CEO Satya Nadellais expected to unveil new products and AI features at the tech company's annual developer event in Seattle.

Zoom Videois expected to post an increase in revenue in the first quarter, on continued demand for the video-conferencing platform’s wide product portfolio.

Cybersecurity firm Palo Alto Networksis expected to report higher third-quarter revenue, helped by growing demand for cybersecurity solutions as cyber attacks and hacking activity pose a greater risk to enterprise customers. Investors will be looking for commentary about new deals, firewall and cloud security trends, and how customers are prioritizing their budgets in the wake of sticky inflation amid economic uncertainty. The company will discuss the quarterly results and any outlook in the conference call scheduled at around 4:30 pm ET.

In Latin America, Mexico’s national statistics agency is expected to publish its report on retail salesfor the month of March. Separately, Chile’s central bank is scheduled to release first-quarter GDPfigures.


Nvidiais expected to report a more than three-fold jump in quarterly revenue at its earnings on Thursday that investors will closely watch for clues on whether the artificial intelligence chip leader can maintain its growth.

A raft of Federal Reserve policymakers are scheduled to speak at different events on Tuesday. Atlanta Fed President Raphael Bostic(moderator), Cleveland Fed President Loretta Mesterand Boston Fed President Susan Collinsare scheduled to participate in the "Central Banking in the Post-Pandemic Financial System" panel before the 2024 Financial Markets Conference hosted by the Federal Reserve Bank of Atlanta. Bostic is also expected to give "welcome back" remarks before the same event. Separately, Federal Reserve Board Governor Christopher Walleris expected to speak on the economic outlook before an event hosted by the Peterson Institute for International Economics. Also on Tuesday, Richmond Fed President Thomas Barkinis likely to give opening remarks before the "2024 Investing in Rural America Conference: Building and Maintaining Momentum" hosted by the Federal Reserve Bank of Richmond. Federal Reserve Bank of New York President John Williamsis slated to give opening remarks at the 2024 Governance and Culture Reform Conference on the same day. Furthermore, Fed’s Vice Chair for Supervision, Michael Barr, is expected to participate virtually in the "Bank Supervision and Regulation" discussion on Tuesday before the 2024 Director & Executive Regional State Member Bank Conference hosted by the Federal Reserve Bank of Dallas. Meanwhile, on Thursday, Bostic is scheduled to participate in a virtual question-and-answer session with students in MBA macroeconomic class at the Stanford Graduate School of Business. On the following day, Waller is set to speak before the Reykjavik Economic Conference.

Targetis expected to post a decline in first-quarter revenue on Wednesday as cautious shoppers remain selective in spending on essentials amid elevated and sticky inflation. Investors will look out for comments on the state of the middle and lower-income consumer, progress of its new membership program Target Circle 360, as well as comments on freight and shrink.

A flurry of U.S. economic data is expected in the week. On Thursday, S&P Global is due to report flash PMIs for May. The flash manufacturing PMIreading is expected to be 50, after a similar reading in the previous month, while the flash services PMIis expected at 51.3, following same reading in April. S&P's flash composite PMI reading is also expected on the same day. On Friday, the University of Michigan’s preliminary reading on the overall index of consumer sentimentis expected at 67.6 in May, after reporting the a reading of 67.4 the month before. On the same day, the Commerce Department's Census Bureau is scheduled to report orders for durable goodslikely declined 0.7% in April, after a 2.6% rise recorded in the previous month. Excluding transport, orders for durable goodslikely rose 0.1% in April, after gaining 0.2% in the month before. The U.S. National Association of Realtors is scheduled to release existing home salesdata on Wednesday. In April, existing home sales likely rose to a seasonally adjusted rate of 4.22 million units after posting 4.19 million units in the previous month. Meanwhile, on Thursday, a report from the Commerce Department is set to show new home saleswere likely at 675,000 units in April, compared to 693,000 units in the month before. Also on Thursday, the Labor Department’s weekly jobless claims data is likely to show initial claims for state unemployment benefitsfell by 2000 to a seasonally adjusted 220,000 for the week ended May 18.

On Tuesday, Bloomingdale's owner Macy's is expected to post a decline in first-quarter revenue, hurt by sluggish consumer demand for discretionary items. Investors will look for comments on the buyout deal, plans to shut down stores, the impact of rising competition on demand, and annual forecasts.

On Wednesday, chipmaker Analog Devicesis expected to report a fall in second-quarter revenue as clients work through existing chip inventory amid slowing demand.

Lowe'sis expected to post a drop in first-quarter same-store sales on Tuesday, as spending on home improvement remains under pressure due to sticky inflation. Investors will look out for comments on demand trends, margin recovery and any forecast that company gives for the year.

TJ Maxx parent TJX Companiesis expected to post a rise in first-quarter revenue on Wednesday, helped by steady demand at its off-price stores. Investors will look for comments on demand, impact of costs and annual forecasts.

PDD Holdingsis set to report an increase in first-quarter revenue on Wednesday, boosted by a jump in the popularity of the Temu e-commerce platform.

On Thursday, Ralph Laurenis expected to post a rise in quarterly revenue, helped by robust demand for its pricier sweaters, shirts, and dresses. Investors will watch out for cues on demand in China and shopping trends in price-sensitive consumers in the U.S.

Chip designing software firm Synopsysis expected to report higher second-quarter revenue on Wednesday, helped by growing demand for its software to design chips that are compatible to perform artificial intelligence processing. Investors will be looking for commentary about any update on its deal to buy Ansys and the company's deal to sell its software integrity unit to a private equity group led by Clearlake Capital and Francisco Partners in a $2.1 billion deal.

Boeingis scheduled to launch its first human crew into space on Tuesday—two NASA astronauts—using its long-delayed and overbudget Starliner spacecraft, which has been in development under a multibillion-dollar NASA contract. The mission, a final test before Starliner can fly six more missions, is a critical moment for Boeing, whose commercial airplanes unit and space unit have suffered successive crises in recent years.

Chinese electric vehicle maker Xpengis expected to report a rise in first-quarter revenue on Tuesday, as it looks to hand over more vehicles helped by subsidies and discounts.

On Wednesday, VF Corpis expected to post a decline in fourth-quarter revenue as demand for apparel and footwear struggles amid higher interest rates in the U.S. Investors will look out for comments on near-term demand trends, promotions and competition as well as updates from the new CFO.

TurboTax-parent Intuitis expected to report higher third-quarter revenue on Thursday, riding on the back of a strong tax season and resilient demand for small businesses for the company's all-in-one software solutions. Investors will be looking for commentary on demand from small businesses as they are grappling with sticky inflation and high borrowing costs. Analysts expect the company to raise its fiscal year 2024 forecast.

Medtronicis expected to report its fourth-quarter earnings on Thursday. Investor focus will be on the performance of its heart and diabetes devices.

On Wednesday, Snowflakeis expected to post an increase in revenue in the first quarter, boosted by rising data management and storage needs of businesses.

On the Canadianfront, Statistics Canada is scheduled to report the nation's consumer price inflation(CPI) figures on Tuesday. On an annual basis, the CPI likely rose 2.7% in April, after a reading of 2.9% in the previous month. Month-on-month, the inflation print is expected to show a 0.5% gain in April, after rising 0.6% in March. On Friday, retail sales, also reported by Statistics Canada, are likely to decline 0.1% in March, after posting a similar fall in the month before.

Investors will watch for updates on U.S. Justice Department’s probe into Toronto-Dominion Bank’s anti money laundering practices when it reports quarter results on Thursday as the lender, Canada’s second biggest, set aside funds to cover for potential fines. Analysts are forecasting second quarter profit to fall.

In Latin America, Mexico's national statistics agency, INEGI, is likely to disclose the country’s gross domestic productfigures for the first-quarter on Thursday, along with inflationdata for the first half of May. On the same day, Mexico’s IGAE economic activitynumbers for May are also on tap. On Friday, Brazilis slated to release its current account deficitnumbers for May. Meanwhile, Chile’s central bankis scheduled to announce the benchmark interest rate on Wednesday. On Tuesday, Argentina’s national statistics agency is expected to release trade balancefigures for April. Peru’s central bank is due to report its current account deficitfor the first quarter on Thursday. On the same day, Peru is scheduled to publish inflationdata for May. On Friday, Mexico’s national statistics agency is expected to post its trade deficitnumbers for April.

Compiled by Anjana Jayakrishnan Nair in Bengaluru; Editing by Ravi Prakash Kumar


Felelősségkizáró nyilatkozat: Az XM Group entitásai csak végrehajtási szolgáltatást és online kereskedési platformunkhoz való hozzáférést biztosítanak, ami lehetővé teszi, hogy a felhasználók megtekinthessék és/vagy felhasználhassák a honlapon vagy azon keresztül elérhető tartalmakat, amelyek nem módosíthatók és nem egészíthetők ki. A hozzáférés és felhasználás mindig a következők függvénye: (i) Felhasználási feltételek; (ii) Kockázati figyelmeztetés; valamint (iii) Teljes felelősségkizáró nyilatkozat. Az ilyen tartalmakat ezért csupán általános információként biztosítjuk. Külön felhívjuk figyelmét arra, hogy az online kereskedési platformunkon található tartalmak nem felhívások vagy ajánlatok tranzakciókba történő belépésre a pénzügyi piacokon. A pénzügyi piacokon folytatott kereskedés jelentős kockázattal jár a tőkéjére nézve.

Az online kereskedési platformunkon közzétett anyagok kizárólag oktatási / tájékoztatási célt szolgálnak, és nem tartalmaznak (nem tekinthető úgy, hogy tartalmaznak) pénzügyi, befektetési adóügyi vagy kereskedési tanácsokat vagy ajánlásokat, illetve kereskedési áraink jegyzékét, vagy bármilyen pénzügyi instrumentummal végrehajtott tranzakcióra vonatkozó ajánlatot vagy felhívást, vagy Önnek szóló kéretlen pénzügyi promóciókat.

Az ezen a honlapon szereplő, külső felektől származó, valamint az XM által készített tartalmak, például vélemények, hírek, kutatások, elemzések, árak és egyéb információk vagy külső felek oldalaira utaló hivatkozások „jelenlegi állapotukban”, általános piaci magyarázatként jelennek meg, és nem minősülnek befektetési tanácsnak. Amennyiben bármely tartalom befektetéssel kapcsolatos kutatásként értelmezhető, meg kell értenie és el kell fogadnia, hogy a tartalom nem a befektetéssel kapcsolatos kutatás függetlenségének előmozdítására szolgáló jogi követelmények szerint készült, következésképpen a vonatkozó törvények és jogszabályok szerint marketingkommunikációnak minősül. Kérjük, feltétlenül olvassa el és értse meg a fenti információkkal kapcsolatos „nem független befektetéskutatással kalcsolatos tájékoztatónkat” és a kockázati figyelmeztetésünket, amelyek itt érhetők el.

Kockázati figyelmeztetés: A CFD összetett eszköz, és a tőkeáttétel miatt a hirtelen veszteség jelentős kockázatával jár. Ennél a szolgáltatónál a lakossági befektetői számlák 71.61%-án veszteség keletkezik a CFD-kereskedés során. Fontolja meg, hogy érti-e a CFD-k működését és hogy megengedheti-e magának a veszteség magas kockázatát. Kérjük, olvassa el a kockázati figyelmeztetés erre vonatkozó részleteit.