Weekly Must-Knows

Investors have had a rollercoaster ride over the last two weeks, with earnings reports, economic data, and the Federal Reserve’s policy announcement keeping them on their toes. However, as we head into the upcoming week, the focus is shifting to a quieter economic calendar and a steady but slower flow of earnings reports.

Last Friday, investors were buoyed by the April jobs report, which showed a slower growth in the US labor market, reigniting talks of a potential interest rate cut by the Federal Reserve later this year. Additionally, strong earnings from tech giant Apple, which also announced plans to boost shareholder returns, helped push all major indexes into positive territory for the week.

Looking ahead, the earnings spotlight will shift to consumer and entertainment names, with Disney set to report its first quarterly earnings since winning a proxy fight last month. Subscriber growth for its streaming services, park attendance, and insights into the summer box office will be closely watched by investors.

Other notable earnings reports expected in the week include updates from ridesharing companies Uber and Lyft, Reddit’s first quarterly report since going public, and insights into consumer eating and drinking habits from companies like Cheesecake Factory, Papa John’s, Celsius, and Krispy Kreme.

On the economic front, the calendar is relatively quiet, with the University of Michigan’s preliminary consumer sentiment report on Friday being the only notable release. While a handful of Federal Reserve officials are scheduled to speak, Fed Chair Jerome Powell is notably absent from the lineup.

Overall, investors will be keeping a close eye on earnings reports and economic data to gauge the health of the market and potential future policy moves by the Federal Reserve.