With corporate earnings season winding down, investors are shifting their attention back to economic data for a pulse of the domestic and global economies. The week ahead features a steady stream of economic data, culminating in a revised GDP report on Friday.
A steady stream of Federal Reserve speaking engagements will also drive market sentiment, giving investors a view of monetary policy ahead of the June 13-14 Federal Open Market Committee (FOMC) meeting. Policymakers have stuck to a hawkish tone as of late, signaling a preparedness to resume policy tightening.
Although the bulk of earnings season is behind us, investors can expect a steady stream of quarterly results over the next five days. Apparel makers and retailers will dominate the headlines in this respect.
Retail earnings were in the headlines last week, with a string of Dow Jones companies reporting quarterly results. Compare this week’s Market Glance with the May 15 edition by clicking here.
The economic calendar starts off with a whimper on Monday, as only one market-moving event is scheduled for release. The Chicago Federal Reserve Bank’s national activity index will be released at 8:30 a.m. and will give investors a snapshot of overall activity and inflationary pressures in the U.S. economy.