What to Watch in the Week Ahead and on Monday, May 19

ON MONDAY

JPMorgan Chase is scheduled to hold its investor day, where key executives will highlight the bank's growth strategies.

Federal Reserve Bank of Atlanta President Raphael Bostic is expected to give welcome remarks and moderate a discussion before the 2025 Financial Markets Conference - "Financial Intermediation In Transition: How Will Policy Adapt?" hosted by the Atlanta Fed. (0830/1230) At the same conference, Dallas Fed President Lorie Logan is scheduled to give prepared remarks during "Policy Session 2: The Increasing Role of Nonbank Institutions in the Treasury and Money Markets". (1315 /1715) Meanwhile, New York Fed President John Williams is expected to participate in a moderated discussion on the economic outlook before the Mortgage Bankers Association Secondary and Capital Markets Conference. (0845/1245) Separately, Minneapolis Fed President Neel Kashkari is likely to participate in a conversation before the Minnesota Young American Leaders Program (MYALP) at the University of Minnesota. (1330 /1730)

On the Latin American front, data for Brazil's IBC-BR economic activity for March is scheduled to be released. Meanwhile, Chile's central bank is scheduled to release first-quarter GDP figures.

REST OF THE WEEK

On the U.S. economic calendar, PMI data, employment numbers and home sales data are on the radar. On Thursday, S&P Global is due to report flash PMIs for May. The flash manufacturing PMI reading is expected to be at 50.5, after a reading of 50.2 in April. Meanwhile, the flash services PMI will likely come in at 51.5, slightly higher from April's reading of 50.8. Furthermore, the Labor Department's weekly jobless claims data is due on the same day. Initial jobless claims for the week ended May 17 are slated to have increased to 230,000 after rising 229,000 the week prior. Continued claims for state unemployment benefits for the week ended May 10 are likely to have risen to 1.888 million. Separately, a report from the Commerce Department on Friday is set to show new home sales were likely at 690,000 units in April, compared to 724,000 units in the month before. Meanwhile, the National Association of Realtors (NAHB) will release the U.S. existing homes sales data for April on Thursday, which is expected to have risen to 4.10 million from 4.02 million in the previous month.

Several Federal Reserve officials are scheduled to participate in various events on Tuesday. Raphael Bostic is likely to give welcome-back remarks before the 2025 Financial Markets Conference hosted by the Atlanta Fed. Thomas Barkin is expected to speak before the "Elevating What Works" 2025 Investing in Rural America Conference hosted by the Richmond Fed on Tuesday and Wednesday. Susan Collins is likely to make remarks before a closed "Fed Listens" event in Keene, New Hampshire. Alberto Musalem is likely to speak on the U.S. economy and monetary policy in a moderated conversation before the Economic Club of Minnesota. Also, Mary Daly and Beth Hammack give keynote speeches, and Raphael Bostic moderates a discussion before the 2025 Financial Markets Conference. Meanwhile, on Thursday, New York Fed John Williams is expected to give keynote before Monetary Policy Implementation Workshop: "Unwinding Large Central Bank Balance Sheets" hosted by the New York Fed.

Home Depot is expected to post a rise in first-quarter revenue on Tuesday as solid demand from professional contractors offsets a slowdown in spending on big-ticket renovation projects. Investors will look out for any comments on demand recovery, impact from Chinese tariffs and potential price hikes.

Target is expected to post a fall in first-quarter net sales on Wednesday, as the big box retailer battles slowing demand for non-essential items at a time when customers have turned more discerning on purchases due to U.S. President Donald Trump's tariffs. Investors will look out for comments on consumer health, price increases, supply chain diversification and inventory levels.

Lowe's is expected to post a drop in first-quarter revenue on Wednesday as the home improvement retailer struggled with customers putting off home renovation projects amid competition from rivals and an uncertain macroeconomic backdrop. Investors will watch for any comments on risks to demand recovery amid Trump's chaotic tariff policy implementation.

Luxury apparel brand Ralph Lauren is expected to post a rise in fourth-quarter revenue on Thursday, helped by an uptick in demand for its floral dinner jackets and Polo shirts. Investors will look out for comments on the impact of tariffs on consumer sentiment, pricing, input costs as well as annual forecasts.

TJX is expected to report a rise in first-quarter revenue on Wednesday, helped by strong demand for its off-price apparel and footwear from consumers looking for deals. Investors will look out for comments on annual forecasts, consumer spending and strategies for merchandise procurement, pricing amid tariffs.

On Thursday, TurboTax parent Intuit is expected to report higher third-quarter revenue, helped by steady demand for its financial management tools.

Luxury parka maker Canada Goose is expected to post a decline in fourth-quarter revenue on Wednesday, hurt by sluggish demand for its products from regions including China. Investors will look out for comments on the impact of tariffs on consumer sentiment, demand, pricing, input costs, as well as annual forecasts.

Canadian investors will look forward to key Consumer Price Index (CPI) figures from Statistics Canada on Tuesday. CPI is expected to fall 0.2% in April, after rising 0.3% in the month before. On an annual basis, CPI inflation likely eased to 1.6% in April, from 2.3% in March. On Friday, data from the same agency is slated to show that retail sales rose 0.7% in March, after dropping 0.4% in the previous month. Separately, on Thursday, April's producer prices data will also be on the radar.

In Latin America, Mexico's retail sales for March, released by the National Institute of Statistics and Geography (INEGI), and Argentina's economic activity data for the same month, published by the National Institute of Statistics and Censuses (INDEC), are due Wednesday. On Thursday, focus shifts to Mexico's final first-quarter GDP estimate from INEGI, and Argentina's March retail sales at shopping centres, also released by INDEC.