A look at some of the key business events and economic indicators upcoming this week:
RETAIL RECEIPTS
The Commerce Department on Tuesday reports retail sales data for May.
Analysts expect that retail sales rose 0.3% last month after stagnating in April. Shopping by consumers accounts for nearly 70% of the U.S. economy and retail sales are watched closely as a measure of economic health. Consumer spending has been driving economic growth, despite high inflation.
Retail sales, monthly percent change, seasonally adjusted:
Dec.: 0.4
Jan.: -1.1
Feb.: 0.7
March: 0.7
April: 0.0
May (est.): 0.3
Source: FactSet
KROGER RESULTS
Grocery chain Kroger reports its first-quarter sales and profit on Thursday before the bell.
Analysts forecast the Cincinnati-based owner of the Ralphs and Food 4 Less chains earned $1.34 per share on revenue of $44.9 billion. The U.S. Federal Trade Commission sued to block its $24.6 billion merger with Idaho-based Albertsons, saying it would lead to higher grocery prices and lower wages for workers.
HOUSING UPDATE
On Friday, the National Association of Realtors releases its monthly snapshot of existing U.S. home sales.
Economists project that sales of previously occupied homes fell in May for the third month in a row. The spring homebuying season is off to a sluggish start this year as home shoppers contend with elevated mortgage rates and rising prices.
Existing home sales, in millions, seasonally adjusted annual rate:
Dec.: 3.88
Jan.: 4.00
Feb.: 4.38
March: 4.22
April: 4.14
May (est.): 4.08
Source: FactSet
Before you consider Kroger, 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. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kroger wasn't on the list.
While Kroger currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
