US employment, Palantir and Novo earnings: what investors need to know this week
AI solutions provider for collecting and analyzing large sets of disparate data (Big Data) Palantir is poised to surpass Nvidia in long-term sales growth / Photo: rblfmr/Shutterstock.com
Another busy week awaits stock market participants: a large number of key corporate reports are expected to be released in the next five days. Financial results of leading semiconductor manufacturers - Lattice Semiconductor, Advanced Micro Devices and Arm Holdings - will allow investors to reassess the prospects of the artificial intelligence boom. The market will also focus on reports from Palantir, Paramount Skydance, Novo Nordisk and a number of other major issuers, according to Yahoo Finance.
The main event on the macroeconomic calendar will be the April U.S. jobs report, which could influence the Fed's interest rate stance. According to Yahoo Finance and FactSet, economists on average forecast a very subdued growth of 60,000-50,000 new jobs after a 178,000 jump in March. In addition, market attention will remain focused on oil prices and any signs of a resolution to the crisis in the Middle East, The Wall Street Journal (WSJ) points out.
Palantir Technologies, Paramount Skydance, Pinterest, Vertex Pharmaceuticals, Diamondback Energy, ON Semiconductor and Tyson Foods will report quarterly earnings on Monday, Ma. 4.
On Tuesday, Ma. 5, the Institute for Supply Management (ISM) will publish the index of business activity (PMI) in the U.S. service sector for April. The consensus forecast assumes the value of the index at 54 points, unchanged from March, writes Barron's. The US Department of Labor's Bureau of Labor Statistics (BLS) will release the Job Openings and Labor Turnover Survey (JOLTS) for March.
Advanced Micro Devices (AMD), Arista Networks, Ferrari, Occidental Petroleum, Electronic Arts, Leonardo, Pfizer, Strategy, Anheuser-Busch InBev, Marathon Petroleum and PayPal will disclose financials.
On Wednesday, Ma. 6, ADP will release U.S. private sector employment data for April. The Energy Information Administration (EIA) will release its weekly report on oil inventories.
Eurostat will release the March producer price index (PPI) in the eurozone. It will allow investors to assess latent inflationary pressures after the jump in energy prices, WSJ notes.
Walt Disney, Arm Holdings, Novo Nordisk, Uber Technologies, Warner Bros. are expected to release quarterly results. Discovery, Snap and Kraft Heinz.
On Thursday, Ma. 7, the markets' attention may shift to the elections in the UK, which the ruling Labor Party risks losing. Investors fear that this will lead to the resignation of Prime Minister Keir Starmer, and his successor will begin to increase government spending. Speculation that the country's new leadership will abandon strict fiscal discipline will hit sterling, Investec economist Philip Shaw warned.
Shell, McDonald's, Airbnb, CoreWeave, Lyft, Rocket Lab Corporation, Coinbase and Block will present financial statements.
On Friday, Ma. 8, the BLS will release the April report on U.S. nonfarm payroll employment. According to the FactSet consensus estimate, the U.S. economy created 50,000 new jobs compared to 178,000 in March. Analysts on average believe that unemployment in the world's largest economy remained unchanged at 4.3%.
Toyota Motor, Sony, AngloGold Ashanti, Wendy's, and Trump Media & Technology Group will report earnings.
This article was AI-translated and verified by a human editor
