NEW-HOME SALESMay 27, 10 a.m. EDTSales of new homes are expected to be down 1.1% in April, to 520,000, compared with the previous month. Although this will mark the fifth consecutive month of declines, the forecasted drop is smaller than the 8.5% registered in March.
CONSUMER CONFIDENCEMay 27, 10 a.m. EDTThe consumer confidence index is expected to drop to 61.0, from 62.3—the lowest reading since November, 1993. Economists say that these levels historically have been seen only during periods of recession.
DIAMONDSMay 28A diamond the size of a squash ball will be auctioned off at Christie's in Hong Kong. Weighing in at 101.27 carats, it's the largest colorless diamond to go on the block in nearly two decades. The rock is expected to fetch upwards of $6 million.
POLO RALPH LAUREN (RL)May 28, 9 a.m. EDTAs consumers rein in spending, sales of some higher-end apparel such as Polo Ralph Lauren continue to shrink. Wall Street expects the company's fourth-quarter earnings to fall 4%, to 65 cents.
SEARS HOLDINGS (SHLD)May 29A soft economy is complicating management's efforts to turn around the struggling retailer. Earnings per share for Sears' fiscal 2009 first quarter are expected to be down 84% from the same quarter a year ago, to 18 cents.
H.J. HEINZ (HNZ)May 29, 8 a.m. EDTThanks to strong international sales—52% of the company's revenues come from outside the U.S.—earnings at H.J. Heinz are expected to remain in positive territory. Earnings per share will climb 11%, year over year, to 61 cents for the fiscal fourth quarter of 2008.
COSTCOMay 29Cash-strapped shoppers are flocking to wholesale clubs seeking bargains. Costco's earnings per share for its 2008 third quarter are expected to climb 16%, to 65 cents.
GDPMay 29, 8:30 a.m. EDTThe betting on Wall Street is that first-quarter GDP will be revised upward to 1.0% from the advance reading of 0.6% released in April. Economists are predicting that growth will slow to 0.5% in the second quarter.
DELL (DELL)May 29, 5 p.m. EDTThe computer maker saw shipments jump 21.6% in the first quarter but an overhaul of its direct-sales strategy is eating into profits. This quarter's earnings are expected to remain virtually flat, at 33 cents per share.
INDIA GDPMay 30Results for the final quarter of the 2008 fiscal year, which ends in March, will confirm that the economy is slowing slightly in response to monetary tightening. Preliminary estimates put growth for the year at 87%, down from 9.6% in 2006-07.
PERSONAL INCOMEMay 30, 8:30 a.m. EDTPersonal income is expected to rise 0.2% in April. Consumption also is forecast to have risen 0.2%.