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The month of May kicks off with a bevy of fundamental developments ranging from the Federal Reserve to economic data. The U.S. central bank will hold its third policy meeting of the year, culminating in an interest rate decision on Wednesday.

On the economic calendar, a deluge of market-moving data will also make its way through the financial markets, with U.S. nonfarm payrolls set to dominate headlines toward the end of the week. For value investors, the monthly jobs report offers critical insights on the health of the U.S. economy.

Earnings season is in full swing this week, with industrial stalwarts Apple Inc. (AAPL ), Merck & Co. (MRK ) and Pfizer Inc. (PFE ) dominating the spotlight. Corporate results have been mostly positive compared to a year ago, despite several misses from Dow Jones blue-chips.

Dow earnings and first-quarter GDP data were the main market movers last week. Compare this week’s Market Glance with the edition of April 24 here.

Monday

Economic Data

The week begins with a steady stream of economic data, beginning Monday at 8:30 a.m. ET with personal income and outlays. The monthly report provides a snapshot of personal income and consumption trends for U.S. households. The data also provides the latest estimate on personal consumption expenditures (PCE), the Federal Reserve’s preferred measure of inflation.

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