Costco, JPMorgan, Snowflake, Ford, Zoom, and more stocks to watch this week

Inflation data, Federal Reserve meeting minutes and first-quarter earnings reports from retailers and chipmakers will be some of the highlights this week.

Thursday will be busy: Best Buy

Costco Wholesale, Dollar Tree

Marvell technology

Ulta Beauty

and Workday all publish results.

JPMorgan Chase and Ford Motor host Investor Days on Monday, followed by PG&E and Thermo Fisher Scientific on Tuesday and Zoetis on Thursday.

The Federal Open Market Committee will release minutes of its early May monetary policy meeting on Wednesday. It will be closely analyzed for officials’ discussions about when to pause interest rate increases.

Announcement – scroll to continue

On Friday, the Bureau of Economic Analysis will release personal income and expenditures for April – both of which are expected to have increased from March. The release will include the Fed’s preferred inflation measure: the core PCE price index. This is expected to slow from the previous month, to 4.4% y/y.

Other data released this week will include S&P Global’s manufacturing and services PMIs for May on Tuesday. Both measures of economic activity are expected to decline from April. The Census Bureau will also release its durable goods report for April on Friday.

Monday 22/5

Heico and Zoom Video Communications cash in.

Announcement – scroll to continue

Ford Motor Company is hosting a Capital Markets Day in Dearborn, Michigan.

JPMorgan Chase is holding an investor day in New York.

Tuesday 23/5

Agilent Technologies

AutoZone, Intuit, Lowe’s, Palo Alto Networks

and VF

Quarterly results report.

Census Bureau New housing sales data for the month of April is released. The consensus estimate is for a seasonally adjusted annual rate of 650,000 new single-family homes sold, 33,000 less than in March. However, new home sales have rebounded from a post-pandemic low last summer of 543,000.

S&P Global Publications Both manufacturing and services PMIs for May. The forecast is for a reading of 50 for manufacturing

Announcement – scroll to continue

PMI and 52.6 for Services PMI. Both numbers will be just below April.

Wed 5/24

Nvidia reports first-quarter results for fiscal 2024. Shares of the largest semiconductor company by market capitalization are up 114% this year, making them the best performers in the S&P 500. Wall Street sees the chipmaker as the long-term winner in intelligence emerging artificial.

Analog Devices, Bank of Montreal, Bank of Nova Scotia

Announcement – scroll to continue

Snowflake launch earnings.

PG&E and Thermo Fisher Scientific are holding Investment Days in San Ramon, California, and New York, respectively.

Federal Open Market The committee releases the minutes of the monetary policy meeting in early May.

Thursday 25/5


Best Buy, Canadian Imperial Bank of Commerce

Costco Wholesale, Dollar Tree, Marvel Technology, Medtronic

Royal Bank of Canada

Toronto Dominion Bank

Announcement – scroll to continue

Ulta Beauty and Workday are holding conference calls to discuss quarterly results.

Zoetis hosts an investor day in New York.

Economic office Analytics points to its second estimate of first-quarter GDP growth. The consensus call is for a seasonally adjusted annual growth rate of 1.1%, unchanged from the preliminary estimate released in April.

Fri 26/5

BEA reports Personal income and expenses for the month of April. Economists expect income and spending to increase by 0.4% on a monthly basis. That compared to a gain of 0.3% and a flat reading, respectively, in March. The core PCE price index is expected to rise 4.4% year-on-year, a tenth of a percentage point lower than previously.

Census Bureau The durable goods report for April is released. New orders for durable manufactured goods are expected to decline 1% from the March total, to $273.6 billion.

#Costco #JPMorgan #Snowflake #Ford #Zoom #stocks #watch #week

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