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Week ahead on Wall Street

Credit: Reuters Studio
Published on May 17, 2019 - Duration: 00:56s

Week ahead on Wall Street

Get set for retail-o-rama: Home improvement and department store chains report their latest results.

Fred Katayama reports.

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Week ahead on Wall Street

Here's what to look for in the week ahead on Wall Street: It's retail-o-rama.

We'll get reports from home improvement chains Home Depot on Tuesday and Lowe's on Wednesday.

The results come as falling mortgage rates spur home building in the U.S. Investors will also get a chance to assess the health of the housing sector.

Expect existing home sales out Tuesday to rise 2.6 percent in April, and new home sales out Thursday to decline to a sesonally adjusted annual rate of 670,000 units.

Back on the retail storefront, three department store chains out with their report cards Tuesday.

JC Penney and Kohl's are likely to reveal that same-store sales have dropped.

But Nordstrom should show a small growth in quarterly sales.

On Wednesday, Target is set to post its eighth straight gain in existing store sales.

On Thursday, Best Buy may also point a rosy picture with its turnaround drive.

Its subscription tech support service is expected to bump up first quarter sales.

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