This week: consumer confidence, Dick's Sporting Goods earnings and the latest US inflation figures

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

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