If you thought all the big earnings stories happened this week, think again. Wall Street will once more brace for impact as earnings season throttles ahead.
Plus, investors are carefully eyeing reports out of the Federal Reserve followed by the hotly-anticipated April jobs number. These are the stories you can't miss in the week ahead.
Earnings Season Continues
There are 1,138 publicly traded companies scheduled to report earnings the week of Monday, April 30 through Friday, May 4. These are the highlights.
On Monday, McDonald's Corp. (MCD - Get Report) will report before the market open. Chipotle's comeback quarter raised the bar for McDonald's results. T-Mobile U.S. Inc. (TMUS - Get Report) will also report Monday amid rumors it's nearing a merger with Sprint (S - Get Report) .
For Tuesday, the big earnings focus will be on Action Alerts Plus holding Apple Inc. (AAPL - Get Report) , expected to report after the market close. Analysts polled by FactSet forecast Apple will report $2.69 in earnings per share on revenue of $61.2 billion.
The Apple bears are forgetting about how much cash the company has, says TheStreet's Executive Editor Brian Sozzi.
On Wednesday, CVS Health Corp. (CVS - Get Report) and Humana Inc. (HUM - Get Report) will report before the market opens, but the real action will come after the closing bell. Earnings are expected then from Spotify Technology (SPOT , Square Inc. (SQ - Get Report) and Tesla Inc. (TSLA - Get Report) . Tesla will likely take the spotlight - analysts expect the electric car manufacturer to report a loss of $3.53 per share on sales totaling $3.27 billion.
Short-sellers are making a mistake on Tesla, says TheStreet's Tesla expert Jonas Elmerraji.
Economic Calendar in Focus With Jobs, Fed Stats
The Federal Reserve's Open Market Committee will meet this coming week and announce their decision on interest rates at 2 p.m. ET on Wednesday, May 2. Economists expect the Fed will keep interest rates at current levels with a target upper bound of 1.75%.
Also on the economic calendar this week is the U.S. trade balance for March. Economists expect the balance reached negative $56.1 billion, a small contraction from the previous month's negative $57.6 billion.
The end-of-week highlight will be the April jobs report, due at 8:30 a.m. ET Friday, May 4. FactSet expects the U.S. economy added 193,500 jobs in April, which would be an increase from the 103,000 non-farm jobs added in March. Economists expect hourly earnings in April to have risen 0.3%, in line with the previous month. The unemployment rate is forecast to drop to 4%, down from the 4.1% rate at which unemployment has hovered for several months.
Trump to Send Reps to China
President Donald Trump is expected to send a delegation of some of his top economic advisors to China in the coming week in an attempt to settle ongoing trade disputes. Among the envoy are Treasury Secretary Steven Mnuchin, Trade Representative Robert Lighthizer, White House Trade Adviser Peter Navarro and National Economic Council Director Larry Kudlow. The team is expected to touch down in Beijing Wednesday or Thursday.
This could be the first move in steadying the recently-rocky trade relationship between the U.S. and China. The two countries have sparred in the last few weeks, exchanging a slew of tariffs worth many billions of dollars against one another.
Cramer's Investing Boot Camp
Just because markets are closed doesn't mean investing stops.
TheStreet Founder and Action Alerts PLUS Portfolio Manager Jim Cramer will not be taking the weekend off, either. He's hosting a conference Saturday, May 5, titled "How to Diversify Your Portfolio: A Boot Camp for Investors." The all-day event in New York will help eager investors gain the right tools to traverse volatile markets with insightful commentary from experts on a range of topics from alternative investments to summer strategies, risk-taking to wealth management.
Cramer will also sit down for an exclusive interview with PayPal (PYPL - Get Report) CEO Dan Schulman to discuss the future of technology and innovation. Don't miss the event - get more information and sign up here.