After a weaker-than-expected jobs report rattled markets last week, and the manufacturing sector contracted more than anticipated last month, investors will get fresh data on the services sector, consumer credit levels, and more this week. Pharmaceutical companies could also be in the spotlight, with earnings from Eli Lilly (LLY), Novo Nordisk (NVO), Amgen (AMGN), and Gilead Sciences (GILD). Other companies set to report include Walt Disney (DIS), Palantir Technologies (PLTR), Caterpillar (CAT), Uber Technologies (UBER), and Airbnb (ABNB).Services Sector, Consumer Credit Updates
The latest services sector Purchasing Managers’ Indexes (PMIs) will be released Monday, proving an update on whether the sector continues to drive economic growth, after last week’s report on declining manufacturing PMI contributed to concerns about the economy.
Consumer credit data coming on Wednesday will show whether the public continues to add debt to fuel spending, while wholesale inventories data released on Thursday could speak to how businesses are adjusting as a result of changing sales forecasts.
On Monday, San Francisco Federal Reserve President Mary Daly will deliver remarks on monetary policy, scheduled to occur after markets close. Richmond Fed President Tom Barkin is also set to speak on Thursday.
Earnings From Eli Lilly, Disney, Uber, and More
Earnings season is starting to wind down, with over 75% of the companies in the S&P 500 having reported results, though the week will still bring several key earnings reports market watchers can look forward to. On Monday, Palantir’s latest quarterly update could show whether the company can continue to drive growth through its artificial intelligence (AI) platforms. Uber will report earnings on Tuesday, after the company reported a surprise first-quarter loss due to $700 million in adjustments to its investments. Walt Disney will follow on Wednesday, with analysts expecting the entertainment giant to swing to a profit, after reporting growth in its experiences segment and a surprise profit in its direct-to-consumer entertainment segment in the prior quarter. Updates from pharmaceutical firms could highlight Thursday’s earnings reports, as Eli Lilly’s earnings could show whether it can continue to drive profits from its weight-loss drugs, while Gilead’s financials will come a few weeks after the company announced positive results in a study of its HIV treatment.