Author: Zac Martin, Investment Associate
Week Ending May 17th – Dow 40K
- Consumer Price Index for April cooled 0.1% to 3.4% year-over-year, this was inline with analyst expectations. Core-CPI was also inline with analyst expectations and cooled from last month’s report.
- Retail sales for April missed analyst expectations and were flat, down from last month’s 0.6% increase.
- The Leading Indicators Index continued its decline this month, led by a deterioration in consumer confidence as well as softer building permits. Despite the decline the indicator is not currently signaling a recession.
- Earnings: Walmart (WMT) reported stronger than expected results, pointing to an increase in shopping from a higher income base. As a result of an increase in upper-income shoppers, Walmart has also increased their guidance for the year.
The week ahead:
- Existing Home Sales (5/22)
- FOMC Meeting Minutes for May (5/22)
- Building Permits & New Home Sales (5/23)
- Earnings: PANW (5/20), LOW, AZO (5/21), TGT, NVDA (5/22), RL, ROST (5/23)
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