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After blockbuster earnings last week from Big Tech, capped by Apple (AAPL), Amazon (AMZN), and a weekend of Buffett wisdom at Berkshire Hathaway’s (BRK.A) annual meeting, markets are still digesting what it all means. The Dow, S&P, and Nasdaq are rallying, but Main Street signals remain mixed, and inflation, tariffs, and consumer caution continue to ripple through corporate results.
The week ahead won’t quite match the mega-cap frenzy, but there’s still plenty to watch — especially in sectors like energy, pharma, and industrials. It may be a big week for Fed news, too, with the Fed making an announcement Wednesday — though no interest rate change is expected at this time.
Monday, May 6
The week kicks off with a closely watched read on the U.S. service sector: the ISM Non-Manufacturing Index for April is due Monday morning. This report tracks activity in industries like retail, health care, and hospitality — which together make up the bulk of the U.S. economy — and can offer key clues about broader momentum, or the lack of it.
Earnings slow down from last week’s Big Tech bonanza, but Monday still brings key updates from across sectors. Palantir (PLTR) reports after the bell, with analysts expecting EPS double last year’s result, amid continued interest in its AI-driven government and commercial contracts. Vertex Pharmaceuticals (VRTX) is also due, with EPS forecast slightly down from last year’s. Ford (F), expected to post flat earnings, faces scrutiny over its EV roadmap and how it’s handling margin pressure and tariff uncertainty.
Tyson Foods (TSN) and Clorox (CLX) round out the day — both offering windows into consumer behavior as household staples and prices continue to fluctuate.
Tuesday, May 7
Markets will digest the latest U.S. International Trade Balance report Tuesday morning, offering fresh insight into America’s trade deficit for March. The data comes as tariff rhetoric continues to grab headlines, making this a key release for economists and policy watchers alike. But the biggest event of the week is likely to be the Federal Reserve’s interest rate decision. The FOMC meeting begins Tuesday and runs through Wednesday. After last week’s unexpectedly weak GDP print and increased signs of consumer hesitation, markets will be watching closely for any shift in tone. An announcement is expected Wednesday, the second day of the meeting.
On the earnings front, Tuesday is a power-packed day across sectors. Advanced Micro Devices (AMD) also reports, and all eyes will be on its AI chip roadmap as the company looks to keep pace with Nvidia (NVDA). Arista Networks (ANET) will offer another read on AI infrastructure demand.
Insurance and energy dominate elsewhere: Progressive (PGR), Duke Energy (DUK), Suncor (SU), and Marathon Petroleum (MPC) all report, giving investors fresh reads on consumer risk, oil supply dynamics, and refining margeins.
Ferrari (RACE) and Marriot (MAR) round out the day with updates that touch on global demand, tariff impacts, and travel spending.
Wednesday, May 8
Shopify (SHOP) kicks off tech results in the morning, with expectations for steady e-commerce growth. In the afternoon, expect Fed news as the FOMC meeting concludes. While no rate change is expected, the policy statement and press conference could offer clues about future cuts or delays.
Coinbase (COIN) and Cheniere Energy (LNG) headline the afternoon, offering insight into crypto trading volume and U.S. LNG exports, respectively. Anheuser-Busch (BUD) will provide insights on global beer demand and pricing strategy, while ConocoPhillips (COP) provides an update on oil and gas margins amid geopolitical upheavals.
Disney (DIS) also reports, with analysts looking to streaming profitability and theme park traffic. Uber (UBER) is on deck too, aiming to show continued progress on profitability and margin gains.
Applovin (APP), DoorDash (DASH), and Arm Holdings (ARM) all report as well, giving another pulse check on digital advertising, food delivery, and semiconductor demand. Novo Nordisk (NVO) will provide updates on weight-loss drug momentum.
Thursday, May 9
Thursday brings a fresh wave of earnings from across the globe. Enbridge (ENB), Canada’s pipeline giant, headlines the morning, with investors watching closely for updates on energy infrastructure demand and regulatory dynamics. Commerzbank’s release will provide a read on the European banking environment amid ongoing rate and currency volatility.
On the economic calendar, markets will digest the latest initial jobless claims data, which could reinforce — or challenge — narratives around a softening labor market following the prior week’s weaker-than-expected GDP print.
Friday, May 10
Again Friday, a range of global earnings reports will provide cross-sector, cross-border takeaways.