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The Week Ahead: PMI Data and Earnings to Test Markets

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Economic & Earnings Calendar

Monday, May 19
• 08:30 GMT – Fed speeches: Bostic, Williams
• 09:45 GMT – Fed Governor Jefferson
• 10:00 GMT – Leading Economic Index (Apr): -0.65% vs. -0.70% prior
• 13:15 GMT – Fed’s Logan

Tuesday, May 20
Before market openHome Depot (HD) reports Q1; EPS est. $3.59 on $39.1B revenue
• 09:00 GMT – Fed’s Barkin
• 13:00 GMT – Fed’s Musalem
• 19:00 GMT – Fed’s Daly and Hammack

Wednesday, May 21
Before market openTarget (TGT) EPS est. $1.70; Lowe’s (LOW) EPS est. $2.89
After market closeSnowflake (SNOW) EPS est. $0.21 on $1.01B revenue

Thursday, May 22
Before market openAnalog Devices (ADI), Ralph Lauren (RL), BJ’s (BJ), Advance Auto (AAP)
• 08:30 GMT – Weekly Jobless Claims (May 17)
• 09:45 GMT – Flash Manufacturing PMI (May)
• 09:45 GMT – Flash Services PMI (May)
• 10:00 GMT – Existing Home Sales (Apr): 4.1M est. vs. 4.02M prior
• 14:00 GMT – Fed’s Williams
After market closeIntuit (INTU), Ross Stores (ROST), Workday (WDAY), Autodesk (ADSK)

Friday, May 23
Before market openBooz Allen Hamilton (BAH) EPS est. $1.60; Buckle (BKE) EPS est. $0.69
• 10:00 GMT – New Home Sales (Apr): 666K est. vs. 724K prior

Central Bank Activity

The Fed calendar is full this week, with scheduled appearances from Bostic, Williams, Jefferson, Logan, Barkin, Musalem, Daly, and Hammack. Market participants will be listening for commentary on inflation trends, labor strength, and policy flexibility. Williams’ remarks Thursday afternoon, following the PMI reports, will be particularly relevant for gauging near-term rate expectations. Chair Powell is not scheduled to speak.

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