A look at some of the key business events and economic indicators upcoming this week:
HOW CONFIDENT?
The Conference Board on Tuesday issues its consumer confidence index for May.
Confidence deteriorated in April for the third straight month as Americans fret about their short-term financial futures with prices and interest rates still elevated. The index measuring Americans’ short-term expectations for income, business and the job market tumbled to 66.4 from 74 last month. Analysts expect confidence dipped again this month.
Consumer confidence index, by month:
Dec.: 108.0
Jan.: 110.9
Feb.: 104.8
March: 103.1
April: 97.0
May (est.): 95.7
Source: FactSet
ON A ROLL
Dick's Sporting Goods releases its latest financial results before the bell Wednesday.
Analysts forecast Pennsylvania-based Dick's made $2.99 per share in the first quarter on $2.94 billion in sales. Dick's shares have been on a roll since last fall, gaining 86%. Dick's closed fiscal 2023 with its best sales quarter ever, taking in nearly $3.9 billion in revenue.
INFLATION UPDATE
The Commerce Department on Friday delivers its April data on U.S. consumer spending and inflation.
Analyst forecast that year-over-year inflation held steady at 2.7% from March to April. The report is closely monitored by the Federal Reserve, which raised interest rates to their highest levels in 22 years in an effort to tame four-decade high inflation.
PCE Deflator, annual percent change, seasonally adjusted:
Nov.: 2.7
Dec.: 2.6
Jan.: 2.4
Feb.: 2.5
March: 2.7
April (est.): 2.7
Source: FactSet
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.