A look at some of the key business events and economic indicators upcoming this week:
CARNIVAL EARNINGS
Carnival Corp. serves up its second-quarter earnings report before the bell Monday.
Analysts forecast that the cruise line operator lost 34 cents per share in the period, which would be its smallest loss since the pandemic shut down the industry more than three years ago. In the same period last year, Carnival lost $1.64 per share on sales of $2.4 billion. Revenue in this year's second quarter is expected to have doubled to $4.8 billion.
CONSUMERS CONFIDENT?
The Conference Board on Tuesday releases its gauge of consumer confidence for June.
Consumer confidence fell for the second straight month in May as Americans, particularly older ones, became more pessimistic about the labor market, on top of elevated anxiety over inflation. Economists project that the gauge ticked up to 103.8 in June. A reading of 90 or better reflects a healthy economy.
Consumer confidence, by month:
Jan. 106.0
Feb. 103.4
March 104.0
April 103.7
May: 102.3
June (est.): 103.8
Source: FactSet
SPENDING DATA
On Friday, the Commerce Department issues consumer spending and inflation data for May.
In April, prices ticked higher and consumer spending rebounded, a sign that inflationary pressures in the economy remain high. The index, which the Federal Reserve closely monitors, showed that prices rose 0.4% from March to April. Despite that, spending jumped 0.8% from March to April. Analysts predict spending rose again in May.
Consumer spending, monthly percent change, seasonally adjusted:
Dec.: 0.0
Jan.: 1.9
Feb.: 0.1
March: 0.1
April: 0.8
May (est.): 0.3
Sourse: abcnews.go.com
