Monday Market Must-Knows: May 15, 2023

Is the Housing sector finding itsfooting?

The housing market sector contributes significantly to GDP and this week willbe an area of major interest with some key announcements, including: the NationalAssociation of Home Builders Housing Market Index, the BuildingPermits & Housing Starts, and Existing Home Sales. Their release will provide insights into economic growth, job creation,and market trends. 

The upcoming trading week is also focused on earnings announcements, with awhopping 767 companies reporting. Key companies include Home Depot, Cisco,Target, TJ Maxx, Alibaba, Walmart, and John Deere. 

Retail sales numbers are also important, as recent readings have been negative,but expectations are for a positive 0.7% growth. This could be good news forthose looking at the macro picture of the markets as there’s an indication thatretailers are doing slightly better. 

Finally, Federal Reserve Chairman Jerome Powell's speech on monetary policycould influence market behavior and cause volatility. Traders should becautious during the panel discussion at 11:00 AM Eastern Time on Friday.

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