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First-quarter earnings season slows down this week, but with plenty of notable companies left to report. Monday’s highlights include
Tyson Foods,
Marriott International,
and
Simon Property
Group, followed by
Electronic Arts
on Tuesday.
Toyota Motor
reports on Wednesday, then
Coinbase
Global,
DoorDash,
and Walt
Disney’s
go on Thursday.
Honda Motor
closes the week on Friday.
A pair of inflation readings will get the most attention on the economic data calendar this week. On Wednesday, the Bureau of Labor Statistics reports the consumer price index, which is seen gaining 0.4% in April after rising 0.3% in the prior month. On Thursday, the BLS reports the producer price index for April. The consensus estimate is for a 0.3% month-over-month increase, after a 1% jump in March.
Other data out this week include the National Federation of Independent Business’ Small Business Optimism Index for April on Tuesday and the University of Michigan’s Consumer Sentiment Index for May on Friday.
Finally, investors and economists will get a look at April retail sales from the Census Bureau on Friday. Expectations are for consumer spending to have held steady last month, after soaring nearly 10% in March.
Monday 5/10
Jacobs Engineering Group,
Marriott International,
Occidental Petroleum,
Simon Property Group, and Tyson Foods release earnings.
Tuesday 5/11
Electronic Arts,
Hanesbrands,
and
TransDigm Group
announce quarterly results.
The National Federation of Independent Business releases its Small Business Optimism Index for April. Consensus estimate is for a 101 reading, higher than March’s 98.2 figure.
The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey for March. Economists forecast 7.5 million job openings on the last business day of March, a bit more than February’s 7.4 million.
Wednesday 5/12
Toyota Motor reports its fiscal fourth-quarter and fiscal-2021 results.
NXP Semiconductors
holds a conference call with analysts to discuss its automotive division.
The Bureau of Labor Statistics reports the consumer price index for April. Expectations are for a 3.6% year-over-year rise in the CPI, while the core CPI, which excludes volatile food and energy prices, is seen gaining 2.3%. This compares with increases of 2.6% and 1.6%, respectively, in March. Inflation has emerged as a chief concern on Wall Street as the economy rebounds sharply, while the Federal Reserve continues to keep interest rates near zero, and the Biden administration spends trillions to aid the recovery with proposals for trillions more in spending.
Thursday 5/13
Coinbase Global announces quarterly results for the first time as a publicly traded company. The cryptocurrency exchange’s shares have fallen 20% since the end of the first day of trading on April 14.
Airbnb,
B, DoorDash, and Walt Disney hold conference calls to discuss their earnings.
Goldman Sachs Group
holds a conference call to discuss its fixed-income portfolio.
The Census Bureau releases the producer price index for April. Consensus estimate is for a 0.3% month-over-month increase, after a 1% jump in March. The core PPI is expected to rise 0.3%, as well, after gaining 0.7% previously.
Friday 5/14
Honda Motor announces quarterly results.
The University of Michigan reports its Consumer Sentiment Index for May. Economists forecast a 90 reading, slightly higher than the April figure, which was a one-year high.
The Census Bureau reports consumer spending data for April. Retail sales are expected to be rise 0.5% month over month, after jumping 9.7% in March. Excluding autos, retail sales are seen edging up 0.2% compared with an 8.4% gain previously.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com