Wall Street week ahead: Monthly retail sales, industrial production data to guide markets
In the week ahead on Wall Street, investors will be focusing on economic data including monthly retail sales, the housing market and industrial production figures for clues on Federal Reserve’s next monetary policy decision in June.
On Tuesday, data on retail sales for April and factory output numbers for the same month will be released.
Earnings reports from companies including Walmart Inc, Home Depot Inc, Cisco Systems Inc, Target and Deere are also due next week.
Next week, US treasury secretary Janet Yellen will hold discussion on debt limit with JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser and other board members of the Bank Policy Institute in Washington.
The Congressional Budget Office warned on Friday that the US faced a “significant risk” of defaulting on payment obligations within the first two weeks of June without raising the government’s $31.4 trillion debt ceiling.
US stocks declined on Friday after a report showed that US consumer confidence slumped to a six-month low in May. The S&P 500 fell 0.16%. The Dow Jones Industrial Average lost 0.03%. The Nasdaq Composite slipped 0.35%.
The US dollar rose to 135.70 Japanese yen from 134.54 on Friday. The euro fell to $1.0853 from $1.0918.
The yield on 2-year treasury gained 8.3 basis points at 3.989% on Friday.
On Friday, Brent crude for July delivery fell 81 cents to $74.17 a barrel. US crude oil benchmark for June delivery fell 83 cents to $70.04 a barrel.
Gold for June delivery fell 70 cents to $2,019.80 an ounce on Friday. Silver for July delivery fell 27 cents to $24.15 an ounce.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.