The Week Ahead on Wall Street

The Week Ahead on Wall Street

Economic Data

Today, consumer credit data for April will be released. This measures how much credit consumers in the US are utilizing. Total consumer credit increased $25.8 billion or 7.4% year-over-year in March.

Tomorrow, the trade deficit, which measures imports and exports for April, is released. For March the goods and services deficit was $74.4 billion, up from $70.5 billion in February. Also on Tuesday, job openings for May are released.

On Wednesday, wholesale inventories for May are published. They measure changes in the total value of goods held in inventory by wholesalers. A higher reading is bearish for the economy and a lower one is bullish. In April wholesale inventories increased 0.8%.

On Thursday the Labor Department releases initial and continuing jobless claims for the previous week. The number of new people looking for work has steadily declined in recent weeks, and fell below 400,000 for the first time the week ended May 29, the lowest level since the beginning of the pandemic. The Consumer Price Index and Core CPI are also published Thursday.

On Friday, the preliminary Consumer Sentiment Index for June is released. After reaching a pandemic high in April, the index fell in May to 82.9. Rising prices are weighing on sentiment.

Earnings Reports

Today, Stitch Fix (SFIX) reports its quarterly earnings. During the quarter the company’s Founder and CEO, Katrina Lake, announced she would be stepping down, shocking investors and sending shares lower. Since then speculation has abounded about why she is leaving and who will replace her. Investors will be paying close attention to any information Stitch Fix can provide on that front when it reports quarterly earnings. Investors will also be looking for guidance from Stitch Fix about rising shipping and manufacturing costs.

Tomorrow, be on the lookout for earnings from UiPath (PATH). The automation software company went public via an IPO in late April, which gave it a market valuation of about $36 billion. The company was able to raise $1.3 billion in its initial public offering. Tomorrow’s report will be UiPath’s first as a publicly traded company. Investors will be paying close attention to what it has to say about demand now and into the future.

On Wednesday, Campbell Soup Company (CPB) reports quarterly earnings. The company is a household name but has shown little in the way of growth over the years. The same goes for its dividend. Investors will be looking for any hint Campbell Soup will raise the payout, even by a small amount.

Be on the lookout for quarterly earnings from Chewy (CHWY) on Thursday. The online pet food and supplies retailer experienced significant growth during the pandemic. The company is in the process of hiring 400 additional workers at its distribution center in Florida. Investors will be looking to see if pandemic demand will continue as restrictions ease.

Also on Thursday, Signet Jewelers (SIG) reports quarterly earnings. Signet is benefiting from the shift to ecommerce, which many jewelers were not ready for when the pandemic struck. In the fourth quarter, Signet’s ecommerce sales climbed 70% year-over-year in the US and 150% internationally. Investors will be paying close attention to see if that trend is continuing.

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 Adviser
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