The week ahead for investors June 5, 2023

KEY POINTS

Dive into this week’s key financial happenings with our succinct, easy-to-understand summaries of the most crucial economic events. Designed to keep you up-to-date, our roundup empowers you to navigate the week ahead and seize unfolding opportunities.

Navigating into the first full week of June, we anticipate a variety of significant developments that could shape the investment landscape. With key economic data releases, a major tech conference, and several notable earnings reports on the docket, investors have much to anticipate.

Here are the major events of the week starting June 5, 2023, organized by day:

• Monday, June 5:
  • Apple Worldwide Developer Conference.
  • U.S. Factory Orders for April.
  • Institute of Supply Management services survey for May.
  • Earnings reports from JOANN, Inc. (JOAN), GitLab Inc. (GTLB), HealthEquity Inc. (HQY).
• Tuesday, June 6:
  • Earnings reports from Ferguson plc (FERG), The J.M. Smucker Company (SJM), Caseys General Stores, Inc. (CASY), and Dave & Buster’s Entertainment, Inc. (PLAY).
• Wednesday, June 7:
  • U.S. trade deficit for April.
  • Consumer credit data for April.
  • Earnings reports from Brown Forman Corporation (BF.A), Campbell Soup Company (CPB), GameStop Corporation (GME), HashiCorp, Inc. (HCP), and Smartsheet Inc. (SMAR).
• Thursday, June 8:
  • Wholesale Inventories for April.
  • Earnings reports from DocuSign, Inc. (DOCU), The Toro Company (TTC), Vail Resorts, Inc. (MTN), Signet Jewelers Limited (SIG).
• Friday, June 9:
  • Earnings reports from NIO Inc. (NIO), Seneca Foods Corporation (SENEA), Aniza Biosciences, Inc. (ANIX), and Nathan’s Famous, Inc. (NATH).

Apple’s Developer Conference: The Week’s Headliner

To set the stage for the week, tech giant Apple hosts its Worldwide Developer Conference on Monday. At this eagerly awaited event, Apple is predicted to showcase new releases, with updates to its operating systems, and potentially introduce new Macs. There are also speculations about the unveiling of a mixed reality headset, a direct response to Meta’s recent virtual reality headset launch.

A Look into the U.S. Economy

Diving into economic indicators, we will get updates on the U.S. trade deficit and consumer credit data, as well as factory orders and non-manufacturing services. The trade deficit report, anticipated to show a widening gap from $64.2 billion in March to an estimated $75 billion in April, will offer valuable insights into the nation’s economic health. This figure significantly impacts the gross domestic product (GDP), as a narrowing trade deficit boosts the GDP.

In a similar vein, the Federal Reserve’s release of consumer credit data on Wednesday will shed light on the U.S. consumer borrowing situation in April. The previous month showed an encouraging rise in consumer borrowing, suggesting robust consumer spending despite rising borrowing costs. However, analysts predict a decrease in consumer borrowing for April, to approximately $20 billion.

Corporate Earnings on the Horizon

On the corporate front, several earnings reports are due next week, promising insights into diverse sectors. We can expect financial results from J.M. Smucker, GameStop, Brown Forman, DocuSign, and Seneca Foods among others. These reports will help sketch a broader picture of the market and provide useful cues for investors.

As we venture into the week, remember to stay informed, stay open to opportunities, and most importantly, stay prepared for the unexpected turns the market may take. Here’s to a successful week of investing!