May Continues With a Barrage of Economic Data

The last full week of May will bring plenty of economic data, with investors eyeing a mid-week update from the Fed as well as an inflation report. Earnings season is dwindling, though there are still plenty of notable names on the docket. 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) are all announcing their quarterly results. 

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

Monday, May 23 starts off slow, with no economic data scheduled.

Tuesday, May 24 will bring new home sales data, the manufacturing purchasing managers' index (PMI), and the services PMI. 

Wednesday, May 25, durable goods orders are due out, as well as the federal open market committee (FOMC) meeting minutes. 

Pending home sales and gross domestic product (GDP) data are due out on Thursday, May 26, along with the regularly scheduled initial and continuing jobless claims.

Friday, May 27, the PCE price index and core PCE price index are on tap, as well as goods trade balance, consumer spending data, and the Michigan consumer sentiment index. The 5-year inflation expectation data is also slated to release.