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This week: Consumer confidence, Dick's Sporting Goods earnings and the latest US inflation reading

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The Conference Board on Tuesday issues its consumer confidence index for May. On Wednesday, Dick’s Sporting Goods releases its latest financial results and on Friday the Commerce Department delivers its April data on U.S. consumer spending and inflation.

Confidence deteriorated in April for the third straight month as Americans fret about their short-term financial futures with prices and interest rates still elevated. The index measuring Americans’ short-term expectations for income, business and the job market tumbled to 66.4 from 74 last month. Analysts expect confidence dipped again this month.Analysts forecast Pennsylvania-based Dick’s made $2.99 per share in the first quarter on $2.94 billion in sales.

Analyst forecast that year-over-year inflation held steady at 2.7% from March to April. The report is closely monitored by the Federal Reserve, which raised interest rates to their highest levels in 22 years in an effort to tame four-decade high inflation.

 

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