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From JPMorgan, here’s the coming week boiled down for you in about 30 seconds:The coming 5 trading sessions promise to be relatively quiet as far as scheduled news goes. There are few more Apr-end earnings releases (inc. MDT/AMAT on Tues, TOL/NTAP Wed, and TIF/MRVL on Thurs) but the reporting season is quickly coming to an end.
We are getting into the heart of the sell-side conference season (slew of events over the coming weeks at which companies will be speaking to investors). For economics, there aren’t too many major numbers. In the US, housing will be in focus (new home sales Tues, house prices Wed, and pending homes on Fri). Also we will get the second revision of Q1 GDP (the St is looking for the number to be raised from its prior 1.8% up to 2.2%). Durable goods (Wed) and Michigan (Fri) also will be watched. There are a bunch of Fed speakers on the calendar but no one should have a major change in tone. In China, we get the flash forecast for the country’s May manufacturing PMI Sun night (5/22). Looking into Europe, we get their PMIs Mon morning and confidence indications Fri. Also Trichet is on the calendar to speak Thurs morning. On the “macro” landscape, there is going to be a G8 meeting Thurs/Fri in France although there aren’t expected to be any major decisions at this gathering.