Jerrys: Nvidia, Macy’s, Zoom, Costco, Snowflake, and Other Stocks to Watch This Week

The first quarterly profit season is down this week, but there are more than a dozen S&P 500SPX + 0.01% companies left to report. Economists will look at the minutes of a recent Federal Reserve meeting and data on consumer benefits as well as business costs and investments.

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Advance Auto Parts and Zoom Video Communications will be the highlights of Monday, followed by AutoZone AZO -6.23%, Best Buy, and Toll Brothers TOL + 1.86% on Tuesday. Dick’s Sporting stock, Nvidia NVDA -2.51%, and a Snowflake report on Wednesday.

Thursday will be busy: Alibaba Group Holding, Costco Wholesale, Dell Technologies, Dollar General, Dollar Tree, Gap, Macy's, and Ulta Beauty all reports.

There will also be a few investor days and annual shareholders' meetings this week, including from JPMorgan Chase on Monday and Chevron, Exxon Mobil, Meta Platforms, Twitter, and United Airlines Holdings UAL -1.49% on Wednesday.

The release of economic data this week will include references to May Manufacturing and Services Purchasing Managers on Tuesday and a Census Bureau report on Wednesday. The Bureau of Economic Analysis data for April revenue and expenditure will be released on Friday.

Finally, the minutes of the Federal Open Market Committee meeting of the financial policy meeting of early May will be published on Wednesday. Officials increased the Fed's target interest rate by half a percent at that meeting and also announced plans to begin reducing the size of the central bank balance sheet.

Monday 5/23

The Advance Auto Parts and Zoom Video Communications report quarterly results.

JPMorgan Chase is hosting its 2022 Investment Day. Shares of a major U.S. bank. down 26% this year, performing below the performance of the KBW Bank Index by 6%, in part due to concerns about overspending without obvious benefits.

Tuesday 5/24

Agilent Technologies, AutoZone AZO, Best Buy, Intuit, Ralph Lauren, and Toll Brothers announced the benefits.

The Census Bureau reports April real estate sales figures. The consensus estimate is an annual average adjusted for the 750,000 new single-family home sales season, slightly less than the 763,000 March.

S&P Global released both of its Production and Services Management indexes in May. Expected 57.8 readings for the Production PMI, while the Services PMI appears to be below 57. This compares with 59.2 and 55.6, respectively, in April.

Wednesday 5/25

Nvidia reports the results of the first quarter of 2023 funding. Shares of a major U.S. semiconductor company. with a market price down 43% this year, as investors have avoided many growth stocks.

Bank of Montreal, Bank of Nova Scotia, Dick's Sporting Goods, DXC Technology, and Snowflake release quarterly results.

BlackRock, Chevron, Exxon Mobil, Meta Platforms, Twitter, and United Airlines Holdings held their annual shareholders' meetings.

The Federal Open Market Committee is issuing minutes from its pre-May monetary policy meeting.

The Census Bureau reports on durable goods. Economists predict that orders for long-term assets will rise by 0.7%, month by month, in April, to $ 277 billion.

Thursday 5/26

Alibaba Group Holding, Autodesk, Burlington Stores, Canadian Imperial Bank of Commerce, Costco Wholesale, Dell Technologies, Dollar General, Dollar Tree, Gap, Macy's , Marvell Technology, Medtronic, Toronto-Dominion Bank, Ulta Beauty, and working day conference calls discuss salary.

The Bureau of Economic Analysis reports its second rate of domestic production for the first quarter. The consensus estimate is that GDP fell by an annual turnaround rate of 1.4%, unchanged from previous BEA estimates, released at the end of April.

Friday 5/27

BEA reports personal income and usage data in April. Revenue is expected to increase by 0.55%, monthly, while personal expenses increase by 0.6%. This compares with an increase of 0.5% and 1.1%, respectively, in March.

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