The U.S. jobs number for April will be the headliner economic event of the week. 

The U.S. economy is expected to have added 200,000 jobs to nonfarm payrolls in April, slowing slightly after two months of strong growth. Nonfarm payrolls added 215,000 jobs in March and 245,000 in February. 

"As U.S. growth momentum continues to slow, the fallout is expected to begin showing up in labor market activity with employment growth slowing in April," TD Securities analysts wrote in a note. "The unemployment rate should hold at 5% as a further influx into the labor force offset the gains in household employment, while wage growth should post a solid gain."

The labor report will take on added significance as it is scrutinized for what it might mean for the Federal Reserve and the timeline of the central bank's planned interest rate hikes. The Fed recently left its federal funds rate unchanged following its April meeting and will meet again on June 14-15.

The chances of a June rate hike are slim with futures only pricing in a 15% probability, according to CME Group. The meeting in December is the only one investors have priced in the likelihood of a rate hike above 50%. 

The jobs number isn't the only set of data for investors to peruse in the first week of May. The auto industry could be under pressure on Tuesday as sales for April are released throughout the day. Analysts anticipate middling results, similar to March, wherein carmakers struggle to top last year's record results.

The manufacturing sector also will go under the microscope in the coming week. Construction spending for March and the ISM manufacturing index for April will be released on Monday, with factory orders for March to be released on Wednesday. The international trade balance for March is scheduled for Wednesday morning.

It's week four of earnings season and investors still have plenty to trade on. The number of reports out in the coming week slows somewhat after the largest batch of big earnings of the season came out last week.

Nearly two-thirds of S&P 500 companies already have reported earnings this season with 75% beating analysts' estimates, above the average success rate of 63%.

Earnings expectations were low heading into the quarter. A stronger U.S. dollar, weaker global demand and a prolonged period of lower commodity prices kept investors bearish. S&P 500 companies are expected to report an approximate 6% slide in average earnings in the first quarter, the fourth straight quarter in decline.

Media and telecom stocks will have their chance to showcase their recent quarterly performances. Sprint (S) and CBS (CBS) will report on Tuesday; Time Warner (TWX) is due for Wednesday morning, while IAC (IACI) and Twenty-First Century Fox (FOXA) are set for Wednesday afternoon; and AMC Networks (AMCX) , News Corp (NWSA) , Scripps Networks  (SNI) and Time (TIME) are scheduled for Thursday.

The coming reporting week is also heavy with earnings from consumer stocks. Archer Daniels (ADM) , CVS Health (CVS) , Estee Lauder (EL) , Noodles & Co. (NDLS) , Potbelly (PBPB)  Starwood Hotels (HOT)  and Hyatt (H) will report on Tuesday; Anheuser-Busch (BUD) , Weight Watchers (WTW) , Whole Foods (WFM) , Kraft Heinz (HNZ) and Kate Spade (KATE) on Wednesday; and Avon (AVP) , El Pollo Loco (LOCO) , MGM Resorts (MGM) , SeaWorld (SEAS)  and Caesars Entertainment (CZR) will report on Thursday.

In tech, Broadsoft (BSFT) is set for Monday; Etsy (ETSY) and GrubHub (GRUB) will report on Tuesday; Fitbit (FIT) , GoDaddy (GDDY) , TripAdvisor (TRIP)  and Zynga (ZNGA) are due on Wednesday; and 3D Systems (DDD) , Alibaba (BABA) , Activision (ATVI) , GoPro (GPRO) , Square (SQ)  and Yelp (YELP) are scheduled for Thursday.

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