Broadcom, Hewlett Packard Headline Earnings Next Week

Get ahead of the market by subscribing to Seeking Alpha’s Wall Street Week Ahead, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports, and conference presentations.

The stock market opened higher as traders kept a close watch on any updates related to the U.S.-Iran conflict amid reports of fresh strikes. The U.S. and Iran have reportedly reached a deal; however, President Donald Trump will have to give the final approval. Reports suggested that Iran had launched missiles. The wholesale inventories’ growth slowed less than expected in April, while retail growth came in line.

Major economic data are scheduled for the coming week. S&P Global and ISM Manufacturing PMI data are scheduled for Monday. JOLTS job opening data is due on Tuesday. On Wednesday, data including S&P Global services and composite PMI and ISM non-manufacturing PMI will be released. Initial jobless claims will be out on Thursday, while nonfarm payrolls and the unemployment rate will be released on Friday.

_______________________________________________________________

Earnings spotlight: Monday: Hewlett Packard (HPE) and Credo Technology (CRDO). See the full earnings calendar.

Earnings spotlight: Tuesday: Palo Alto Networks (PANW) and Ulta Beauty (ULTA). See the full earnings calendar.

Earnings spotlight: Wednesday: Broadcom (AVGO), CrowdStrike (CRWD), and Medtronic (MDT). See the full earnings calendar.

Earnings spotlight: Thursday: Ciena Corp. (CIEN), lululemon (LULU), and DocuSign (DOCU). See the full earnings calendar.

Volatility watch: Netflix (NFLX) and Globalstar (GSAT) have seen options volatility increase over the last week. The most overbought stocks per their 14-day relative strength index include Momentus (MNTS), Hyliion (HYLN), and Redwire (RDW). The most oversold stocks per their 14-day Relative Strength Index include Verra Mobility (