Lennar earnings, retail sales, Fed meeting: What to Watch
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Market Domination Overtime host Julie Hyman previews the top market stories and headlines Wall Street will be paying attention to throughout next week, including corporate earnings out from companies like homebuilder Lennar (LEN) and firearm manufacturer Smith & Wesson (SWBI), the latest economic data in the form of retail sales and home builder confidence, and the Federal Reserve kicking off its June FOMC meeting on Tuesday, June 17.
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Time now for what to watch next week. Starting on the earnings front, we got more earnings coming in next week from Lennar, Lazy Boy, and Smith & Wesson. Lennar announcing results for the second quarter on Monday. Analysts are expecting home sales to go up, selling roughly 23,000 homes last quarter. That's around 8% more year over year. Taking a look at the consumer, we'll be getting monthly US retail sales data for May on Tuesday. Economists forecast total sales will fall 0.7%, signaling that consumers are buying less amid elevated interest rates and that tariff uncertainty. Moving over to housing, we'll get some fresh data coming in next week, including housing starts and building permits on Wednesday. Housing starts expected to hold steady at 1.3 million at an annual pace, while building permits tick up to 1.43 million. And finally, of course, the Federal Reserve will kick off its June FOMC meeting on Tuesday. The interest rate decision will come on Wednesday. Fed chair, J. Powell, giving a press conference after the decision. And Yahoo Finance will be starting coverage on Wednesday at 2:00 p.m. Eastern. We'll also get a new dot plot.