Washington, D.C. – The upcoming week is poised to be a significant one on both the economic and earnings fronts, with the Federal Reserve meeting and the release of the April jobs report among the key events.

Beginning on Tuesday, the Federal Open Market Committee will kick off a two-day meeting, with a rate decision expected on Wednesday. While markets are anticipating rates to remain unchanged at 5.25%-5.5%, all eyes will be on any potential changes in the committee’s statement and Federal Reserve Chairman Jerome Powell’s remarks during the press conference.

On Friday, the core PCE price index, the FOMC’s preferred inflation measure, showed a modest increase, alleviating concerns about stagflation following a weak Q1 GDP report. Despite this, questions about inflation are likely to be raised during Powell’s press conference.

Clark Bellin, President and CIO at Bellwether Wealth, remarked on Friday’s PCE print, suggesting that while rate cuts remain a possibility, they are expected towards the end of the year to allow for further analysis of inflation trends.

In addition to the Fed meeting, the April jobs report is set to be released on Friday, with economists forecasting nonfarm payrolls to rise by 250,000. Strong employment numbers are expected across various sectors, particularly in government, education, and healthcare.

Earnings-wise, tech giants Amazon and Apple will be in the spotlight this week, with Amazon’s earnings report scheduled for Tuesday and Apple’s for Thursday. Analysts are closely watching Apple’s valuation and its expanding services business to offset any potential hardware slowdowns.

Other notable earnings to watch for this week include NXP Semiconductors, ON Semiconductor, MicroStrategy, Domino’s, Eli Lilly, Coca-Cola, AMD, McDonald’s, Starbucks, PayPal, Super Micro Computer, CVS Health, Qualcomm, Pfizer, Kraft Heinz, Mastercard, Marriott, MetLife, MGM Resorts, eBay, DuPont, Shell, CononoPhillips, Amgen, Booking Holdings, Fortinet, Hershey, and Magna International.

For income investors, Morgan Stanley, UBS, Norfolk Southern, and Citi are all set to go ex-dividend this week. In the Wall Street Research Corner, Baird highlighted an increase in short interest levels across stocks in the fashion and wellness industry, with companies like Urban Outfitters, e.l.f. Beauty, and Ulta Beauty seeing significant increases in shares sold short. Kohl’s, followed by Revolve Group and The RealReal, had the highest short interest percentages.

Overall, the upcoming week is packed with key economic indicators, earnings reports, and market movements, setting the stage for potential insights into the state of the economy and corporate performance.