The Week Ahead on Wall Street

Economic Data

Today the New York Fed will release April’s one-year and three-year consumer inflation expectations survey. In March inflation expectations hit a new high at 6.6% for the one-year reading, also referred to as the short term. The three-year reading, which represents medium-term expectations, eased up a bit in March coming in at 3.7%. Also be on the lookout for March’s revised wholesale inventories.

Tomorrow, April’s NFIB Small Business Index is due, after falling to a two-year low in March. The reading measures small-business-owner optimism. Unsurprisingly, many owners list inflation as their biggest challenge. Real household debt is also set for release.

Wednesday, the April Consumer Price Index will be published, with inflation at its highest level in 40 years. Last month’s CPI showed prices increasing 8.6% year-over-year. The most recent data did show some easing in the core CPI, which strips out highly volatile food and fuel costs. Also be on the lookout for April’s federal budget.

Thursday jobless claims are due after last week’s number hit 200,000, rising for the first time since April, and representing the biggest weekly jump since last July. April’s PPI for final demand will be released as well.

Friday the University of Michigan is set to publish this month’s preliminary consumer sentiment and five-year inflation expectations. April’s Import Price Index is also due.

Earnings

Today meal delivery service company Blue Apron (APRN) will report its first-quarter data, after it announced last week it had secured a $70.5 million capital infusion through debt and equity financings. Blue Apron fell short of Wall Street’s revenue expectations during its last three earnings calls.

Tomorrow, Norwegian Cruise Line (NCLH) will post earnings, after missing on the top and bottom lines during its most recent quarter. In February the company allowed kids under the age of five to board without proof of vaccination, and it removed its mask mandate. Last week, industry peer Royal Caribbean (RCL) reported that since March its bookings exceed record levels observed pre-pandemic, in 2019.

Wednesday, Beyond Meat (BYND) will hand in its first-quarter report card. In late April fast-food giant McDonald’s (MCD) announced future plans to expand its partnership with the plant-based meats company, after first rolling out the McPlant at select locations in February.

Thursday, Six Flags Entertainment (SIX) will share its latest results. The amusement park company just announced plans to hire 15,000 seasonal workers across the US, which economists note will be a test of the teen labor force at a time when the broader jobs market is historically tight.

Friday, New York City REIT (NYC) will report first-quarter earnings. According to a SEC filing, American Realty Capital CEO Nicholas Schorsch purchased 10,400 shares of the real estate investment trust last Wednesday.

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