The Week Ahead on Wall Street

Economic Data

Today the New York Fed will release its consumer inflation expectations for May. The survey looks at where people see prices heading over the near and medium term. In April one-year median consumer inflation expectations declined 0.3%, month-over-month. This means consumers expect inflation to slow its pace slightly over the next 12 months. Three-year median inflation expectations rose 0.2%.

Tomorrow, the National Federation of Independent Business is scheduled to publish May’s small business optimism index. In April the figure hit a 48-year low. Three in every ten business owners list inflation as their biggest problem. The Producer Price Index final demand is also due for May.

Wednesday, be on the lookout for May’s retail sales stats. This comes amid a period of intense scrutiny for the retail sector as rising fuel and labor costs have put pressure on companies’ bottom lines. Retail sales rose 0.9% in April despite persistent inflation. On a related note, the FOMC will release its policy statement and Fed Chair Jerome Powell will give a press conference outlining the central bank’s plan to rein in price increases. The NAHB home builder’s index for June is also due.

Thursday, jobless claims are released after last week’s number hit a five-month high. Initial claims jumped by 27,000 to hit 229,000 overall. Some economists downplayed the increase and said the labor market remains tight. Also on the economic calendar are May’s building permits and housing starts.

Friday, the Federal Reserve will publish May’s industrial production index. In April industrial production increased 1.1%, topping expectations. Capacity utilization for May is also due after it rose in April and exceeded estimates. Leading economic indicators for May are also set for release.

Earnings

Today, American software company Oracle (ORCL) hands in its latest report card. Last week the firm closed on the $28 billion acquisition of Cerner (CERN), marking its move into the healthcare space.

Tomorrow, Motorcar Parts of America (MPAA) is scheduled to report earnings. The manufacturer and distributor of aftermarket car parts announced a new line of brake pads and rotors under the company’s Quality-Built brand last week.

Wednesday, John Wiley & Sons (WLY) will report its latest results. The company mainly publishes academic and instructional materials but has expanded into career-connected education and workplace automation. Last month John Wiley & Sons predicted annual revenue will exceed $2 billion for the first time in its 215-year history.

Thursday, grocery giant Kroger (KR) will share its most recent earnings data. Last week activist investor Carl Icahn said he was dropping his proxy fight with Kroger concerning their treatment of pregnant pigs. The Cincinnati-based grocery chain also announced plans to expand into South Florida.

Friday, Alithya Group (ALYA) rounds out the week’s earnings calls. Earlier this month the Montreal-based digital strategy and technologies company acquired Datum Consulting Group for $45.5 million.

The Week Ahead at SoFi

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