May continues with a barrage of economic data

Inflation data is available, along with an update from the Fed

The last full week of May will bring plenty of economic data, with investors eyeing a midweek update from the Fed as well as an inflation report. Earnings season is winding down, though there are still plenty of notable names on the record. Abercrombie & Fitch (ANF), Alibaba (BABA), American Eagle (AEO), Big Lots (BIG), Costco (COST), Nordstrom (JWN), Petco (WOOF), Snowflake (SNOW), Toll Brothers (TOL), Ulta Beauty (ULTA), Urban Outfitters (URBN), Williams-Sonoma (WSM) and Zoom Video (ZM) all announce their quarterly results.

Below is a list of key market events scheduled for the coming week. All economic dates listed below are tentative and subject to change.

Monday May 23 starts slowly, with no economic data forecast.

tuesday 24 may will bring new data on home sales, the manufacturing purchasing managers index (PMI) and the services PMI.

Wednesday May 25durable goods orders are expected, along with minutes of the Federal Open Market Committee (FOMC) meeting.

Data on home sales and gross domestic product (GDP) are due on Thursday, May 26as well as regularly scheduled initial and continuing unemployment insurance claims.

Friday, May 27, the PCE price index and core PCE price index are available, as well as the goods trade balance, consumer spending data and the Michigan consumer sentiment index. Data on 5-year inflation expectations is also expected to be released.

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