Retail earnings, Fed commentary, debt ceiling: 3 things to watch this week
This is Yahoo Finance Live. Here are the three things you need to know to get off your start this morning. Results season turns to major retail force this week. The timing is key as fresh data shows consumer confidence dropping like a stone. Home Depot kicks us off tomorrow before the bell. Watch out for that one. The stock's known for outsize moves after the numbers hit.
On Wednesday, its targets turn, the inventory story weighing on that stock last year. We'll take a look at the role discounts and promotions are playing in 2023. And the big one, Walmart. It reports before markets open on Thursday, the nation's biggest private employer will give a definitive corporate take on the health of the consumer. Margin's are a key focus here, especially the impact arising share of groceries will have on its sales for sale. Thing number two, it's a lighter week on the data front, but if retail sales go down to stand out for investors, the numbers come with a little more weight amid the evidence inflation is starting to cool, albeit slowly. We're expecting an increase of 0.
8% on the month thanks to strong spending on cars and fuel. And Fed speak is also worth keeping an eye on as the debate over June's decision heats up. Markets largely expecting a pause as things stand. The Atlanta Fed's Raphael Bostic, more and more becoming a key voice for markets, speaks at a conference today. Includes Loretta Mester, the New York Fed's John Williams, and Chicago's Austin Gullsby all speak on Tuesday. And thing number three, the elephant in the room. We're all waiting the debt ceiling talks between President Biden, House Speaker Kevin McCarthy, and the other principal players in the ongoing debate.
It seems the sanguine tone around the issue is coming to an end with investors keeping an eye on the so-called ex-state. Janet Yellen has warned it could come as soon as June 1st. Morgan Stanley's Mike Wilson has weighed into the issue, saying the impasse around raising the $31.4 trillion borrowing limit could trigger sharper swings in equity markets.
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