A look at some of the most important business events and economic indicators coming up this week:
HOW SURE?
The Conference Board will release its consumer confidence index for May on Tuesday.
Confidence deteriorated for the third month in a row in April as Americans worried about their short-term financial future while prices and interest rates were still high. The index, which measures Americans' short-term expectations for income, business and the labor market, fell to 66.4 from 74 last month. Analysts expect confidence to have fallen again this month.
Consumer confidence index, by month:
December: 108.0
Jan: 110.9
February: 104.8
March: 103.1
April: 97.0
May (estimate): 95.7
Source: FactSet
ON A ROLL
Dick's Sporting Goods will release its latest financial results before the bell on Wednesday.
Analysts forecast that Pennsylvania-based Dick's earned $2.99 per share on sales of $2.94 billion in the first quarter. Dick's stock has been on a roll since last fall, rising 86%. Dick's ended fiscal 2023 with its best sales quarter ever, with revenue of nearly $3.9 billion.
INFLATION UPDATE
The Commerce Department will release its April data on U.S. consumer spending and inflation on Friday.
Analysts predict that annual inflation remained stable at 2.7% between March and April. The report is being closely watched by the Federal Reserve, which has raised interest rates to a 22-year high in an effort to curb high inflation over the past four decades.
PCE deflator, annual percentage change, seasonally adjusted:
November: 2.7
December: 2.6
Jan.: 2.4
February: 2.5
March: 2.7
April (estimate): 2.7
Source: FactSet
