Recap Of Last Week Indexes 📈 | Notable Economic Readings Due This Week 🫡 | Earnings Reports On Our Radar 👀
Last week the market was a mixed bag of results while the ongoing debate about when or if the Federal Reserve will be delivering a rate cut. Let’s take a week at the weekly performance of our indexes:
The Nasdaq Composite saw 1% rise
The S&P500 closed out near flat
The Dow Jones Industrial Average fell more than 2%
All 3 indexes are near record highs still
Last week no real economic data came out but a key reading of the Fed’s preferred inflation gauge is set to headline this weeks news for investors, to give a clue of when a rate cut could come or if one will. Investors will also be looking for a second update on economic growth in Q1 and consumer confidence also take the spotlight.
On our corporate front we have some interesting earnings reports that have been picked up on our radar. Let’s explore which tickers we are on the lookout for this week:
| Salesforce | May 29th 📈
Salesforce is increasing its share buyback plan by $10B and has repurchase $1.7B worth of shares in Q4 which brings them to a total of $12B since Aug ‘22
Some investors believe revenue needs to re-generate, however the company announced the launch of Einstein 1 platform and Einstein Copilot feature.
EPS = $2.37 expected
Revenue = $9.15B
Created with TradingView | Costco | May 30th 📅
Their Q3 report is set to hit after the bell and will be its first report with a new CFO after Richard Galanti stepped down in March. Memberships will be a key metric for the company and company leadership has stated that the retailer has passed the average amount of time it usually takes between membership price hikes, its a matter of when not if. Memberships are expected to climb 73.55M this quarter.
Another notable things that will be reported on are a new Uber Eats Partnership which will allow customers to order products through the app whether they are Costco members or not.
EPS = $3.67
Revenue = $57.89B
Created with TradingView
