The Week Ahead on Wall Street

Economic Data

There is no economic data scheduled to be released today.

Tomorrow, the Conference Board releases the Consumer Confidence Index for May. This data point tracks how optimistic American consumers are about their financial situation in the coming months. In April the index rose sharply to 121.7. That is up from 109 in March. As of April consumer confidence was at its highest level since last February. Also published Tuesday is the Case-Schiller National Home Price Index for March and new home sales for April.

There is no data scheduled to be released on Wednesday.

On Thursday, the Labor Department releases initial and continuing jobless claims for the previous week. This tracks the number of people who file for unemployment for the first time and those who continue to collect unemployment benefits. The numbers have been declining in recent weeks as pandemic restrictions ease and more people return to work. Last week initial jobless claims fell by 444,000, which was a greater-than-anticipated drop. Continuing jobless claims increased 111,000. Continuing claims run a week behind initial jobless claims. April’s durable goods and pending homes for sale are also released Thursday.

On Friday, consumer spending for April is released. Tracked by the Bureau of Economic Analysis, this data point measures personal consumption expenditures or the value of the goods and services purchased by consumers in the US. In March, consumer spending was up 4.2%. It’s expected to continue to increase as the economy rebounds. Also released Friday is personal income and core inflation for April and consumer sentiment for May.

Earnings Reports

Tomorrow, AutoZone (AZO) reports quarterly earnings. The auto parts retailer is benefiting from people keeping their vehicles longer, which means they need more service and repairs. Currently the average age of vehicles on the road is close to 12 years.

Also tomorrow, Toll Brothers (TOL) reports quarterly earnings. The home builder is enjoying strong demand for new homes as low interest rates drive more buyers into the market. Prices are surging with limited inventory of existing homes, which is prompting homebuyers to turn to new homes instead. In March the median existing home sale price increased a record 17.2% to $329,100.

Be on the lookout for Snowflake (SNOW) to report its quarterly earnings Wednesday. Goldman Sachs (GS) is singing the praises of this cloud computing company, recently raising its investment rating to buy from neutral. The Wall Street firm pointed to Snowflake’s competitive position in the cloud market and a recent decline in its share price which makes it an attractive entry point. Investors will be paying close attention to what the company has to say about its growth prospects for the remainder of the year.

On Thursday, Costco (COST) reports quarterly earnings. Costco is among the growing list of retailers to lift mask requirements for customers fully vaccinated against COVID-19. The retailer is not requiring proof of vaccination but is asking all customers who are not inoculated to continue to wear a face covering. Earlier this month the CDC changed its indoor mask guidance for fully vaccinated people. It will be interesting to see how the new mask rule impacts Costco’s foot traffic and sales.

Also on Thursday, Salesforce (CRM) reports quarterly earnings. The customer relationship management software company has started to slowly bring employees back to its San Francisco headquarters. A Morgan Stanley software analyst also recently increased his rating on Salesforce to Overweight from Equal Weight arguing that the company is “well positioned for ramping digital transformation demand.” Investors will be tuning in to see what’s next for the company.

The Week Ahead at SoFi

This week, learn how to be a winning working couple and how to thrive while working from home. Plus, tune in to Your Next Dollar—live on LinkedIn, Twitter, and Zoom. Sign up for an event in the SoFi app.


Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.

TLS 1.2 Encrypted
Equal Housing Lender