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The week ahead: 23/05/22

More retailers report to the market this week, including Kingfisher and Marks & Spencer in the UK, and Best Buy, Nordstrom, Macy’s and Gap in the US. Economic growth will also be in the news, with fresh GDP data due in Germany and the US, while we round off the week with Australian retail sales.

Monday 23 May

The week begins with the German Ifo business climate survey, including business expectations and current assessment. A light earnings schedule includes car parts provider Advance Auto Parts and UK home improvement retail group Kingfisher. Analysts will be keen to discern whether the B&Q and Screwfix owner has maintained its improved performance from the pandemic.

Tuesday 24 May

Best Buy chart: 20/05/22
   Best Buy chart: 20/05/22 (click to expand)

Earnings are due on Tuesday from financial software firm Intuit, lab tech provider Agilent, US electronics retailer Best Buy, fashion company Ralph Lauren, department store Nordstrom, Chinese car retailer Autohome, home repairs service HomeServe, German real estate firm TAG Immobilien, lifestyle retailers Urban Outfitters and Abercrombie & Fitch, photovoltaic systems producer Canadian Solar and exhibition organiser Hyve Group. We’ll also see flash manufacturing and services PMI data for Japan, France, Germany, the eurozone, the UK and the US, and US new home sales.

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Wednesday 25 May

UK retailer Marks & Spencer posts full-year results on Wednesday, after last week announcing its opposition to an online sales tax. Figures also come from GPU maker Nvidia, UK pet care group Pets at Home, software company Splunk, home furnishings retailer Williams-Sonoma, sporting goods retailer Dick’s and UK banknote producer De La Rue. Among the macroeconomic data, look out for German GDP, the GfK German consumer climate and US durable goods orders.

Thursday 26 May

A mixed bag of earnings on Thursday includes medical device maker Medtronic, US discount stores Dollar General and Dollar Tree, HR systems supplier Workday, software company Autodesk, cloud computing firm VMware, beauty store Ulta, UK water company United Utilities, department store Macy’s, UK chemicals firm Johnson Matthey, online car marketplace Auto Trader, clothing retailer Gap, asset manager ICG, payment systems supplier PayPoint and US fast-food chain Jack in the Box. In the US, the second estimate of Q1 GDP is released (the advance estimate having shown a surprise drop by 0.4% over the quarter), along with pending home sales.

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Friday 27 May

Early on Friday the latest Tokyo CPI is issued in Japan, followed shortly by Australian retail sales. Provisional figures showed a 1.6% month-on-month increase, indicating strong consumer demand. In the US, keep an eye out for the advance goods trade balance, wholesale and retail inventories, plus personal spending figures and the University of Michigan consumer sentiment survey.

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Published: 23 May 2022

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.

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