U.S. stocks are poised to open lower on Monday, ahead of a retailer-heavy earnings week and some key economic data.
On Wednesday, the Federal Open Market Committee will release the minutes from its early-May monetary-policy meeting, which will be closely scrutinized for clues about when officials might pause interest-rate increases.
On Friday, the Bureau of Economic Analysis will report personal income and expenditures for April—both of which are expected to have risen from March. The report will also include the Fed’s preferred inflation measure: The core personal-consumption expenditures price index, which is expected to have slowed from March, to a gain of 4.4% from the same time last year.
At 6:19 p.m. Eastern time on Sunday, Dow Jones Industrial Average futures lost 72 points, or 0.2%, while the S&P 500 futures fell 0.3%, and Nasdaq Composite futures inched down 0.3%.
West Texas Intermediate, the U.S. crude benchmark, rose 0.2% to $71.69 a barrel. Brent crude, the international standard, climbed 0.2% to $75.75 a barrel.
Notable earnings this week include: Heico, Nordson, and Zoom Video Communications on Monday; and
Agilent Technologies,
AutoZone,
BJ’s Wholesale Club,
Dick’s Sporting Goods, Intuit, Lowe’s,
Palo Alto Networks,
Toll Brothers,
Urban Outfitters,
Williams Sonoma,
and
V.F.Corp.
on Tuesday.
Analog Devices, Kohl’s, Nvidia, Petco Health & Wellness, and Snowflake report earnings on Wednesday; Best Buy, Costco Wholesale, Dollar Tree, Gap, Marvell Technology, RH, Ulta Beauty, Workday report on Thursday; and Big Lots on Friday.
This week’s notable economic events include: On Tuesday, the Census Bureau releases new residential sales data for April, and S&P Global releases both its Manufacturing and Services Purchasing Managers’ Indexes for May. On Wednesday, the Federal Open Market Committee will release the minutes from its early-May monetary-policy meeting.
On Thursday, the Bureau of Economic Analysis will report its second estimate of first-quarter gross-domestic-product growth. On Friday, the BEA reports personal income and expenditures for April, and the Census Bureau will release the durable goods report for April.
Write to Janet H. Cho at [email protected]
Read the full article here