The following is a daily rundown of the economic reports and corporate earnings that will be grabbing the market's attention in the week ahead.
Monday May 5
China releases the HSBC Manufacturing PMI.
(10 a.m. ET) U.S. releases non-manufacturing ISM for April. Consensus is for 54.0, up from March's 53.1.
Earnings include: Alaris Royalty; Newalta; Ritchie Bros.; Savanna Energy; Anadarko Petroleum; Hecla Mining; Occidental Petroleum; Orbitz Worldwide; Pfizer; Ritchie Bros. Auctioneers; Tyson Foods.
Tuesday May 6
China releases the HSBC composite PMI and services PMI.
Purchasing managers indexes released for the euro zone, as well as retail sales.
(830 a.m. ET) Canada releases the merchandise trade balance for March. Consensus is for a surplus of $450-million, up from February's $290-million.
(830 a.m. ET) U.S. releases its goods and services trade deficit. Consensus is for $40.4-billion, slightly narrower than February's $42.3-billion.
Earnings include: Agrium; BCE; Brookfield Real Estate; Catalyst Paper; Centerra Gold; Churchill; Emera; First Capital Realty; George Weston; George Weston; Iamgold; Killam Properties; North American Energy; Russel Metals; Sun Life; Veresen; WestJet Airlines; Activision Blizzard; Electronic Arts; First Solar; FirstEnergy; Mosaic; Office Depot; TripAdvisor; Western Refining; Whole Foods Market.
Wednesday May 7
China releases its trade surplus for April, forecast at $18.8-billion, up from March's $7.7-billion.
Japan releases its composite and services PMI data for April.
Germany releases March factory orders, while France releases industrial and manufacturing production and the trade deficit figures.
(830 a.m. ET) Canada releases building permits for March. Consensus is for a gain of 3.5 per cent, after declining 11.6 per cent in February.
(830 a.m. ET) U.S. releases productivity and unit labour costs.
(10 a.m. ET) Federal Reserve Chair Janet Yellen testifies on the economic outlook.
Earnings include: Aecon Group; Avigilon; Brookfield Asset Management; Cott; Enbridge; Franco-Nevada; Great Canadian Gaming; Home Capital; Husky Energy; Intact Financial; Kinross Gold; Lake Share Gold; Linamar; Norsat; Talisman Energy; Tim Hortons; Tostar; Trican Well Service; Trinidad Drilling; Western Forest; Allergan; AOL; Avis Budget Group; Chesapeake Energy; Devon Energy; Dynegy; Molson Coors Brewing; Molycorp; Tesla Motors; Twenty-First Century Fox; Zillow.
Thursday May 8
Germany releases industrial production.
Bank of England concludes its monetary policy meeting.
(815 a.m. ET) Canada releases April housing starts. Consensus is for a 11.6 per cent rise to an annualized rate of 175,000.
(830 a.m. ET) Canada releases the new housing price index for March, forecast to rise 1.5 per cent from a year earlier.
(830 a.m. ET) U.S. releases initial jobless claims for last week, forecast to decline 19,000 from 325,000.
Earnings include: AuRico Gold; AutoCanada; Calfrac Well; Canadian Natural Resources; Canadian Tire; Chartwell REIT; Cineplex; Claude Resources; Cresent Point; Fortis; Great-West Lifeco; Industrial Allliance Insurance; Magna International; Morguard REIT; Pan American Silver; Pembina Pipeline; Quebecor; Silver Standard Resources; Silver Wheaton; SNC-Lavalin; Telus; Valeant Pharmaceuticals; Yellow Media; Apache; Mitel Networks.
Friday May 9
China releases inflation data for April.
Germany releases its trade surplus and Italy releases industrial production.
(830 a.m. ET) Canada releases employment report, forecast to rise by a net 16,300 jobs, with the unemployment rate expected to hold steady at 6.9 per cent.
(10 a.m. ET) U.S. releases wholesale inventories for March. Consensus is for a rise of 0.5 per cent.
Earnings include: Armtec; Enerplus; High Liner Foods; IGM Financial; TMX Group; Trimac Transportation; Precision Castparts; Priceline; Student Transportation; Telus; TransGlobe Energy; Wendy’s Company.