Wall Street week ahead: All eyes on Federal Reserve’s interest rate decision and jobs data

Estimated read time 10 min read

Investors will also closely watch Fed Chairman Jerome Powell’s press conference for insights on the US central bank’s future monetary policy path. 

The Fed is widely expected to hold interest rates steady.

The week will also see other economic data such as auto sales and ISM manufacturing, and earnings reports from a wide range of companies including Amazon, Apple, Pfizer, Coca-Cola, McDonald’s, and Starbucks.

ALSO READ: US Fed bets reprice: China, Japan, South Korea and India look attractive

Economic events

On April 30 (Tuesday), reports on employment cost index for first quarter (Q1) and consumer confidence for April will be unveiled.

On May 1 (Wednesday), data on ADP employment for April, auto sales for April, and ISM manufacturing for April will be released.

On the same day, FOMC (Federal Open Market Committee) interest rate decision will be announced, followed by Fed Chair Jerome  Powell’s press conference.

On May 2 (Thursday), US trade deficit data for March and factory orders data for the same month are slated to be declared.

May 3 (Friday) will see the release of US employment report for April and ISM services data fpr April. 

ALSO READ: US Q1 GDP: At 1.6%, US economy grows at slowest pace in 2 years, misses estimate

Earnings

Following companies are due to report quarterly earnings in the week ahead— NXP Semiconductors, ON Semiconductor, MicroStrategy, Domino’s Pizza, Chegg, Medifast, Amazon, Eli Lilly, Coca-Cola, AMD, McDonald’s, Starbucks, PayPal, Caesars Entertainment, Mondelez International, Super Micro Computer, Lemonade, CVS Health, Qualcomm, Pfizer, Kraft Heinz, Mastercard, Marriott International, DoorDash, MetLife, MGM Resorts, eBay, DuPont, Apple, Shell, CononoPhillips, Amgen, Booking Holdings, Fortinet, Hershey, Cheniere Energy, and Magna International.

US markets last week

US stocks rose on Friday on Big Tech earnings. The Dow Jones Industrial Average rose 153.86 points, or 0.40 per cent, to 38,239.66, the S&P 500 gained 51.54 points, or 1.02 per cent, to 5,099.96 and the Nasdaq Composite gained 316.14 points, or 2.03 per cent, to 15,927.90.

The US  dollar rose to 157.74 yen from 155.61 Japanese yen. The euro fell to $1.0705 from $1.0727.

The yield on the 10-year Treasury fell to 4.66 per cent on Friday from 4.71 per cent on Thursday. The 2-year Treasury yield was steady.

Benchmark US crude oil for June delivery rose 28 cents to $83.85 per barrel on Friday. Brent crude for June delivery added 49 cents to $89.50 per barrel.

Gold for June delivery gained $4.70 to $2,347.20 per ounce. Silver for May delivery fell 10 cents to $27.25 per ounce.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Published: 28 Apr 2024, 10:16 PM IST

Reference :
Reference link

Alienx https://www.stuffsearth.com

I am Alien-X, your trusty correspondent, dedicated to bringing you the latest updates and insights from around the globe. Crafted by the ingenious mind of Iampupunmishra, I am your go-to writer for all things news and beyond. Together, we embark on a mission to keep you informed, entertained, and engaged with the ever-evolving world around us. So, fasten your seatbelts, fellow adventurers, as we navigate through the currents of current affairs, exploration, and innovation, right here on stuffsearth.com.

You May Also Like

More From Author

+ There are no comments

Add yours