Looking ahead to next week, April CPI is about to be released, and Chinese concept stocks take over earnings season! JD.com, Li Auto earnings are coming.
This week's key economic data, US April CPI data, initial jobless claims, and the preliminary value of the May University of Michigan Consumer Confidence Index are all coming out in a cluster.
On the financial events front, Federal Reserve officials will take turns speaking, including Director Jefferson, New York Fed President Williams, Director Waller, and others. In addition, the risk of debt default is looming, and US President Biden will meet with four senior congressional leaders to discuss the debt ceiling issue.
In terms of financial reports, although the peak of the Q1 earnings season for US stocks has passed, some important companies are still releasing their performances, including Chinese concept stocks like Li Auto and JD.com. US new energy auto brands $Lucid Group (LCID.US)$ 、 $Rivian Automotive (RIVN.US)$ As well as the legendary investor Buffett's frequent bets on $Occidental Petroleum (OXY.US)$ Quarterly reports will be released post-market on Monday and Tuesday in the US.
On Monday, economic data is relatively flat, investors should pay attention to the US March wholesale sales monthly rate.
On the financial report side, $Palantir (PLTR.US)$ 、 $Lucid Group (LCID.US)$ 、 $PayPal (PYPL.US)$ will announce its financial results post-market.
On Tuesday, investors should keep an eye on heavyweight data such as China's April trade data, China's April trade data calculated in US dollars, China's April M2 money supply annual rate, China's social financing scale, and the US April NFIB Small Business Confidence Index.
On the event front, Federal Reserve Governor Jefferson will deliver a speech.
In addition, Biden is scheduled to hold a meeting with four congressional leaders on Tuesday to discuss the debt ceiling issue. U.S. Treasury Secretary Yellen previously warned that the earliest possible "debt default risk" could occur as early as June 1, and now the time left for the U.S. government is running out. Before June 1, this issue may continue to trouble the market.
On the financial report side, $Rivian Automotive (RIVN.US)$ ， $Occidental Petroleum (OXY.US)$ $Upstart (UPST.US)$ $Affirm Holdings (AFRM.US)$ $Airbnb (ABNB.US)$ 、 $Virgin Galactic (SPCE.US)$ Several companies will release their performance.
On Wednesday, in terms of economic data, investors need to pay close attention to the U.S. CPI data for April, as it may determine whether the Federal Reserve will pause rate hikes at the next meeting and keep interest rates unchanged.
Analysts expect that the U.S. April CPI will remain stable at 5%, while the core CPI (excluding factors with significant fluctuations such as food and energy) will decrease from 5.6% to 5.4%.
In terms of financial reports, $Li Auto (LI.US)$ 、 $Roblox (RBLX.US)$ To be announced in pre-market trading on the US stock market. $Disney (DIS.US)$ 、 $Beyond Meat (BYND.US)$ Will release performance in post-market trading.
Needham analyst reiterated a "buy" rating on Roblox with a target price of $53. It stated that Roblox's latest report indicated an acceleration in development trends in March, with a 26% increase in daily active users (DAU) and a 27% growth in bookings calculated at fixed exchange rates, marking the fastest growth in some time. The firm has raised its expected bookings for the 2023 fiscal year by about 1%, expecting Roblox to continue this trend for the remainder of the year, albeit at a slower pace compared to March.
On Thursday, in terms of economic data, the USA will release April PPI data and initial jobless claims for the week ending May 6. The market currently expects a slight increase in initial jobless claims for the week.
The latest data shows the largest increase in initial jobless claims in the USA in 6 weeks, indicating some weakness in the US labor market. As of the week ending April 29, first-time claims for unemployment benefits increased by 13,000 to 242,000. Continued claims for unemployment benefits fell to about 1.81 million for the week ending April 22.
Continued unemployment claimants include those who have received unemployment benefits for one week or more, which is a good indicator of the difficulty people face in finding work after unemployment.
On the financial report side, $JD.com (JD.US)$ ， $SoundHound AI (SOUN.US)$ will release financial reports
On Friday, in terms of economic data, the USA will announce the April import price index month-on-month, one-year inflation rate expectations, and the preliminary value of the University of Michigan Consumer Confidence Index for May.
Currently, the market expects the preliminary value of the University of Michigan Consumer Confidence Index for May to be 63, slightly lower than the previous value of 63.5.
Joanne Hsu, Director of the University of Michigan Consumer Survey, previously stated that consumer confidence in April remained relatively stable, rising by less than two points compared to March. The buying conditions for durables improved by 11%, mainly due to a slight easing of concerns about affordability. Despite increasingly negative news about the business environment that consumers are hearing, their expectations for short-term and long-term economic prospects have slightly improved compared to last month. These improvements offset the worsening personal financial assessments resulting from increased spending, reflecting the ongoing pain caused by persistent high prices.
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