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Last Week’s Market Activity

Despite another interest rate hike by the Fed and Jerome Powell, we saw another tremendous week of earnings.  Companies like Apple, Berkshire Hathaway, and Shopify shocked Wall Street, and were handsomely rewarded for doing so.  Although earnings season is beginning to slow down, this coming week still has some very important economic data releases!  This means, there is bound to be some continued volatility in the market this week.

Macroeconomic Indicators

There weren’t many notable economic data releases last week.  However, we did get to hear from Jerome Powell, and the Fed.  Yet another quarter-point hike was announced, and Chairman Powell foreshadowed this could be their last rate hike.  While the Fed likely won’t cut rates for a couple of months, a pause on rate hikes would have a tremendous impact on markets.  

A couple of reports that flew under the radar last week were the unemployment report as well as the consumer credit report.  Both came in much hotter than analysts had forecasted.  Unemployment was expected to come in at 180,000, and consumer credit was expected to come in at $16.8 Billion.  However, they came in at 253,000 and $26.5 Billion, respectively.  If these trends continue, there will certainly be turmoil for consumers in the near future.

Upcoming Market Catalysts

This week, we’re bound to see a bit of volatility in the markets, because we’ve got some very important economic data releases.  We’ll get both CPI and PPI data this week, which will likely determine the direction of the next Fed meeting.  If CPI and PPI continue to trend downward, we can expect this month’s rate hike to be the last.  However, if inflation data is a bit more sour than expected, there may be additional interest rate hikes in our future!

Notable Earnings Releases

This week, earnings season is beginning to slow, however, we still have some very influential companies reporting their earnings, such as:

05/08 – PayPal Holdings (PYPL), McKesson Corporation (MCK), KKR & Co. (KKR), Tyson Foods (TSN), Skyworks Solutions (SWKS), Palantir Technologies (PLTR), Lucid Group (LCID), AECOM (ACM)
05/09 – Duke Energy Corporation (DUK), Airbnb (ABNB), Occidental Petroleum (OXY), Electronic Arts (EA)
05/10 – Toyota Motor Corp (TM), Walt Disney Company (DIS), Li Auto (LI), Roblox Corporation (RBLX)
05/11 – JD.com (JD)
05/12 – Honda Motor Company (HMC)

This week, we’ll see some of the mid-sized tech companies, like PYPL, PLTR, and ABNB report their earnings.  It will be interested to see how recent macroeconomic trends have shaped their business.  Additionally, analysts will be eager to hear how Elliot Management has been influencing PYPL.  

We’ll also get to hear from DIS this week.  Investors will be eager to hear about the performance of Disney+ as well as the company’s many parks.  They’ll also be eager to hear how the company is performing after ousting former CEO Bob Chapek, and bringing Bob Iger back to the team.

Lastly, we’ll also get to hear from some important automotive companies, in TM and HMC.  It will be especially interested to hear what they have to say about the performance of the new car market, since these manufacturers serve the most price sensitive automotive consumers.

⚡ Watchlist ⚡

Monitoring the market conditions this week.

⚡ Trade Wins from Last Week ⚡

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