This week, Wall Street will be watching Friday’s May employment report. With the timing of a rate cut becoming increasingly uncertain, the latest nonfarm payrolls data will be the last before the Federal Reserve meets on June 11-12. Friday’s April PCE inflation report showed that the Fed’s official target for 12-month core PCE was 2.8%, the same as in March. On the other side of the Atlantic, the situation is a bit different, with the European Central Bank expected to cut interest rates on June 6, which also marks the 80th anniversary of the Normandy landings.
Hewlett Packard Enterprise is scheduled to report earnings next week.Hewlett-Packard), Lululemon (Lulu), NIO (NioThe events calendar is packed with conferences such as Nareit REITweek and COMPUTEX Taiwan. Walmart (World Trade Center) will also attract attention as its shareholders meeting and annual employee celebration are scheduled on different days.
The investor is Nvidia (NVDA) was made just before a 10-for-1 stock split that goes into effect after the close of trading on Friday.
Earnings Highlights: Monday, June 3 – GitLab (GTLB) and Scientific Applications (SAIC). View the complete earnings calendar.
Earnings Highlights: Tuesday, June 4 – Cloud Strike (CRWD), PVH (PVH), Hewlett Packard Enterprise (Hewlett-Packard), Bath & Body Works (BBWI). View the complete earnings calendar.
Earnings Highlights: Wednesday, June 5 – Lululemon (Lulu), Dollar Tree (DLTR), Brown-Forman (B.F.A.), Campbell’s Soup (CPBA (US Consumer Product Safety Commission)), Five Below (Five). View the complete earnings calendar.
Earnings Highlights: Thursday, June 6 – Reincarnation (Internet of Things), DocuSign (documentary), J.M. Smucker (S.J.M.), NIO (Nio). View the complete earnings calendar.
Volatility Monitor: Robinhood Markets options trading volume increased (FoodAmong the most overbought stocks on the 14-day Relative Strength Index are Global Ship Lease Co.glucose), UL Solutions (UL), Danaus (DACAmong the most oversold stocks on the 14-day Relative Strength Index are Leggett & Plattleg), DLocal (DLO), Coursera (coolFaraday Future Intelligent Electric (FFIE) and MicroCloud Hologram (Holo).
IPO Watch: Aluminum recycler Novelis (NVL) and Israeli glass film manufacturer Gauzy (Gauz) is expected to price its IPO and begin trading next week. The analyst quiet period was over for ZEEKR Intelligent Technology (NYSE:Zek), which allows analysts to freely post their ratings. Zeekr’s shares were trading at more than 20% above its IPO price at the time of writing.
Investor Events: The conference calendar is full over the coming week. The four-day Nareit REITweek conference kicks off in New York City. The list of executives attending includes Digital Realty,DLR) CEO Andy Power, Safehold (safety) CEO Jay Sugarman, Tangier (SKT) Invitation Homes CEO Steven Yaloff (India) Dallas Tanner, CEO, VICI Properties (Vichi) Public Storage CEO Edward Pitoniak (public transport) Joe Russell, CEO, Realty Income (oh) Sumit Roy, CEO of SL Green Realty (SLG) CFO Matthew Diliberto and Equinix (Equix) CFO Keith Taylor. Investors will also be paying close attention to the three-day Jefferies Global Healthcare Conference. The long list of companies attending includes Aldeira Therapeutics (Ardex), Savala (SVRA), Agilent (a), Gilead Sciences (guildMeanwhile, at the Deutsche Bank Global Consumer Conference in Paris, Kraft HeinzKHC), Keranova (hair), Cisco (S.Y.Y.), Procter & Gamble (PG),Starbucks(SBUX), Philip Morris International (afternoonThe meeting has seen stock prices move in the past based on updates on management’s expectations. Snowflake (NYSE:snow), Cisco (Central Intelligence Agency), Presigen (general), and Entergy (NYSE:Europe) will also hold an investor event that could send a jolt to its share price.
