Wall Street investors are gearing up for a packed week of economic data releases and corporate earnings, even as markets observe the Memorial Day holiday on Monday.
U.S. stock exchanges will be closed on May 26 in honor of Memorial Day, marking a holiday-shortened trading week. However, investors will closely watch key economic indicators and earnings reports set to be unveiled throughout the week.
Key Economic Data on Tap
Market attention will focus on the first estimate of the U.S. gross domestic product (GDP) for the first quarter, alongside the Personal Consumption Expenditures (PCE) Price Index — the Federal Reserve’s preferred gauge of inflation. Additionally, minutes from the Federal Reserve’s May monetary policy committee meeting are expected to provide insight into the central bank’s outlook on the economy and future interest rate moves.
The economic calendar includes:
- Tuesday, May 27: Release of the S&P CoreLogic Case-Shiller Home Price Index for 20 cities (March) and the Consumer Confidence Index for May.
- Wednesday, May 28: Publication of the Federal Reserve’s May Federal Open Market Committee (FOMC) meeting minutes.
- Thursday, May 29: Reports on initial jobless claims for the week ending May 24, the first revised GDP figures for Q1, and pending home sales data for April.
- Friday, May 30: Releases covering personal income and consumer spending for April, the April PCE Price Index, advanced U.S. trade balance in goods, the Chicago Business Barometer (PMI) for May, and final consumer sentiment for May.
Earnings Season Intensifies
The week will also see a slew of notable companies report quarterly earnings. Technology and consumer sectors dominate the lineup, featuring artificial intelligence chip leader Nvidia, technology hardware manufacturers Dell and HP, and cloud software giant Salesforce. Other companies reporting include JOYY, Okta, e.l.f. Beauty, Costco, Marvell, Li Auto, Ulta Beauty, Best Buy, and Canopy Growth.
Market Recap: Last Week’s Declines Amid Trade Tensions
U.S. stocks closed lower last Friday after President Donald Trump proposed imposing 50% tariffs on European goods, heightening concerns over escalating global trade tensions. Treasury Secretary Scott Bessent indicated that Trump viewed the European Union’s trade offers as inadequate and hoped the tariff threat would accelerate negotiations.
The Dow Jones Industrial Average declined 256.02 points (0.61%) to 41,603.07. The S&P 500 lost 39.19 points (0.67%) to 5,802.82, while the Nasdaq Composite dropped 188.53 points (1.00%) to 18,737.21.
For the week, the Dow fell 2.47%, the S&P 500 declined 2.61%, and the Nasdaq retreated 2.48%. Meanwhile, the yield on the 10-year U.S. Treasury note eased slightly to 4.51% from 4.54%.
