Wall Street Week in advance: Investors eye our GDP, Nvidia earnings, PCE inflation, Fed -Minute | Einsmark news

In a holiday shortened week ahead, investors in Wall Street will have a packed calendar with various economic data and earnings reports that will be released. The US stock markets will be closed on Monday with compliance with the Memorial Day. On the economic data front, the spotlight will be on the first estimate of the US economy for the first quarter and on the price index for personal consumption expenses, the preferred inflation of the Federal Reserve. Market participants will also receive the minutes of the Fed’s meeting of the Monetary Policy Committee. In the earnings calendar, several major businesses will report quarterly results, such as artificial intelligence chip giant Nvidia, the manufacturers of technology hardware Dell and HP, and Salesforce. Economic calendar on May 27 (Tuesday), separate reports on S&P Corelogic Case-Shiller Home Price Index (20 cities) for March and consumer confidence for May will be released. On May 28 (Wednesday), minutes from the FOMC meeting of the Federal Reserve will be released. On May 29 (Thursday), separate reports on the initial unemployed claims for the week ended May 24, the first revised gross domestic product (GDP) for the first quarter, and pending home sales for April are declared. On May 30 (Friday), separate reports on personal income for April, consumer spending for April, PCE (personal consumption expenses) index for April, advanced US trade balance in goods for April, Chicago Business Barometer (PMI) for May, and the final consumer sentiment for May. Earnings to businesses will report the first quarter earnings in the coming week – Joyy, Okta, Nvidia, Salesforce, HP, Elf Beauty, Costco, Dell, Marvell, Li Auto, Ulta Beauty, Best Buy and Canopy Growth. Markets last week fell US shares on Friday after President Donald Trump proposed 50% tariffs on European goods, causing concerns about fresh global trading tension. US Treasury Secretary Scott Besent said Trump does not believe that the EU’s adequate quality trade offers. He also said he hoped that the threat of fresh rates would “light a fire under the EU” in negotiations. The Dow Jones industrial average fell by 256.02 points, or 0.61%, to 41,603.07, the S&P 500 lost 39.19 points, or 0.67%, to 5,802,82 and the NASDAQ composition lost 188,53 points, or 1.00%, to 18,737,21. For the week, the Dow lost 2.47%, the S&P 500 fell 2.61%and the Nasdaq dumped 2.48%. The yield on the 10-year treasury decreased to 4.51% from 4.54%.