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Week of May 27, 2024 Events: Inflation, Earnings & More

Plus500 | Monday 27 May 2024

As May 2024 draws to a close, its economic and financial events continue unabated. From earnings releases and global economic data to the Federal Reserve’s favourite inflation gauge, here's what you need to know about the week that was and the week ahead:

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Last Week’s Main Highlights

Before we delve into this week’s anticipated events, it may be helpful to reflect on what occurred the previous week to gain insight into the factors that may continue to influence the markets. 

One of the key events last week was NVIDIA’s earnings report, which saw the company surpass $1,000 in extended trading hours (Wednesday evening), triggering a rally across many chip stocks. Additionally, NVIDIA (NVDA) announced a 10-for-1 stock split. Furthermore, UK Prime Minister, Rishi Sunak, surprised both UK residents and market watchers by announcing an early summer election, potentially impacting both UK markets and the global economy.

Moreover, the release of the FOMC minutes revealed ongoing concerns about inflation in the world’s largest economy, reflecting a hawkish sentiment among many Fed members. This contributed to losses across several Wall Street indices. Finally, the week saw a flurry of earnings releases beyond NVIDIA’s, providing further insights into the state of the economy and the financial markets.

That said, let’s delve into this week’s events:

This Week’s Main Events 

Earnings Reports 

Earnings season continues in full swing with reports from companies like HP, Costco, Dell, and Marvell. 


HP is expected to report its financial earnings on Wednesday, May 29 and many analysts expect the reports to show an EPS growth YoY on a quarterly revenue drop of $12.53 billion. 

Costco (COST)

Costco is expected to report its earnings on Thursday, May 30 and it is projected to report a  YoY revenue growth of 7.9% ($57.89 billion), up from $53.65 billion in last year’s third quarter. In addition, the company’s memberships are predicted to grow. 

Dell Technologies (DELL)

Tech giant Dell is expected to report earnings on Thursday, May 30. The company’s revenue is projected to grow from the year-ago period. On the flip side, net income is expected to weaken and drop to $428.65 million from the previous $578 million. Many traders may also be interested in seeing how artificial intelligence (AI) has affected the company’s performance given the Dell’s  AI ventures and advancements.

Marvell (MRVL)

Marvell is another company that is expected to report earnings this week on Thursday, May 30, and it is projected to report a YoY decline in earnings and revenue ($1.15 billion down 12.9% from the year-ago quarter). (Source: Yahoo Finance)

Nonetheless, these are all projections and only time will tell what actually lies ahead for these big companies and their respective sectors.

US & Eurozone Inflation Data

Key inflation data from the US and the Eurozone will be released this week on Friday, May 31.


Personal Consumption Expenditure (PCE), otherwise known as the Fed’s preferred inflation gauge, is set to be released this Friday. The report can provide valuable information into the state of the world’s biggest economy ahead of the upcoming Federal Reserve meeting on June 11-12 and in light of the latest hawkish Fed remarks and signs of stubborn inflation.

While the actual results of the PCE are yet to be seen, some experts project headline PCE to grow 0.3% and core PCE to gain 0.3% MoM and 2.8% YoY.

The data is crucial not only for consumers but also for traders as it can affect the Forex markets. As such, keeping track of the results can be helpful in understanding the overall economy and the trajectory of the financial markets.

Eurozone Inflation

In the Eurozone, Consumer Price Index (CPI) data for May is set to be released on Friday. The data is expected to show a 0.2% MoM rise in consumer prices. The report can affect the markets and the anticipated European Central Bank (ECB) rate decision on June 6.  

Other Economic Releases

Other releases for the week include the following:

  • Gross Domestic Product (GDP) releases from the US,  Canada, Taiwan, Sweden, Switzerland, France, and Italy,

  • CPI from Germany, Spain, France, Poland and Tokyo.


This week promises a variety of earnings reports from industry giants like HP, Costco, Dell, and Marvell, offering insights into sectoral performance and economic health. Additionally, crucial inflation data releases from both the US and Eurozone will provide further clarity on the global economic trajectory. It will be interesting to see what these reports will reveal.

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