Shortened holiday week dominated by debt ceiling debate

Memorial Day weekend has finally arrived, and the 7.2% gain in the S&P 500 (SPX) since the start of the year bodes well for the scholarship in 2023. Yet as the United States nears a potential debt default — and with no deal in sight among lawmakers — all eyes are on Washington DC during the holiday-shortened week. Each day closer to June 1 injects more anxiety into the stock market.

The Revenue Registry still has a few laggards, including c3.AI (IA), GameStop (GME), Nordström (JWN)And Macy’s (M). Beyond that, the unemployment numbers at the end of the week could add even more volatility to Wall Street.

Below is a list of key market events scheduled for the coming week. All economic dates listed below are tentative and subject to change.

The stock exchange is closed Monday, May 29 on the occasion of Memorial Day. Go buy a coffee for a veteran!

tuesday 30 may will feature the S&P Case-Shiller Home Price Index, while Richmond Fed President Tom Barkin will speak. Manchester United (MANU) will report winnings prior to opening.

Post-closing, Ambarella (AMBA), Box (BOX), HP Inc (HPQ) and Hewlett Packard Enterprise (HPE) will also report.

Launch of Job Openings and Labor Turnover Data (JOLTS) Wednesday May 31. The Fed’s Beige Book, ADP Unemployment Report and remarks by Philadelphia Fed Chairman Patrick Harker are also on deck.

When the closing bell rings, AI, Chewy (CHWY), CrowdStrike (CRWD), GME, JWN, NetApp (NTAP), OKTA (OKTA)and Salesforce (CRM) all fall into the income confessional.

On Thursday, June 1, the weekly jobless claims come out as usual, while the ISM manufacturing survey and other remarks from Harker could move the markets. Dollar General (DG) and M declare their income in the morning.

After the close we will hear from Broadcom (AVGO), Dell Technologies (DELL)Five below (FIVE), LULU, MongoDB (MDB)VMWare (VMW) and Zscaler (ZS) on the earnings front.

On friday june 2, the unemployment report is the doozie to watch. There are no notable gains to watch.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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