The Week Ahead
Wall Street is expected to ease into summer next week with a slow stretch marked by low trading volumes and a smattering of economic data. The busy day is Tuesday, which will provide figures on consumer confidence, home sales and personal income and spending. All of these have direct bearing on a consumer sector that has been the market's star performer so far this year, but is coming off a rough week marred by disappointing reports from several retailers. Chip-equipment investors also need to make up some losses, and can look forward to the mid-quarter update by Novellus Systems (NVLS) Tuesday evening. Amazon.com (AMZN) shareholders meet in Seattle the next day to view glitzy PowerPoint slides and celebrate a hot consumer stock nearing a 16-month peak. Consumer companies dominate the handful of earnings reports on the agenda, with home builder Toll Brothers (TOL) due on Wednesday and retailers Neiman-Marcus (NMG.A) and Costco (COST) Thursday. Also on Thursday, the Chicago Purchasing Managers' Index will provide a gauge of Midwest manufacturing activity. Friday brings April's factory orders and the latest Michigan consumer sentiment survey.
Wall Street is expected to ease into summer next week with a slow stretch marked by low trading volumes and a smattering of economic data. The busy day is Tuesday, which will provide figures on consumer confidence, home sales and personal income and spending. All of these have direct bearing on a consumer sector that has been the market's star performer so far this year, but is coming off a rough week marred by disappointing reports from several retailers. Chip-equipment investors also need to make up some losses, and can look forward to the mid-quarter update by Novellus Systems (NVLS) Tuesday evening. Amazon.com (AMZN) shareholders meet in Seattle the next day to view glitzy PowerPoint slides and celebrate a hot consumer stock nearing a 16-month peak. Consumer companies dominate the handful of earnings reports on the agenda, with home builder Toll Brothers (TOL) due on Wednesday and retailers Neiman-Marcus (NMG.A) and Costco (COST) Thursday. Also on Thursday, the Chicago Purchasing Managers' Index will provide a gauge of Midwest manufacturing activity. Friday brings April's factory orders and the latest Michigan consumer sentiment survey.
