This Week: Home Depot, Walmart results; April housing starts
A look at some of the key business events and economic indicators upcoming this week:
ON A ROLL
Wall Street expects another strong quarterly report card from Home Depot.
Financial analysts predict the home-improvement retailer will report Tuesday that its fiscal first-quarter results improved from a year earlier. That would be in line with Home Depot’s results in the 12 months that ended in January. The company has benefited as more people invest in home remodeling amid a strong housing market.
The Commerce Department issues its latest tally of newly started residential construction projects Wednesday.
U.S. builders broke ground on more apartment buildings in March, offsetting a drop in single-family home construction. All told, housing starts for the month climbed to a seasonally adjusted annual rate of 1.32 million. Economists project housing starts grew at the same annual rate in April.
Housing starts, monthly, seasonally adjusted annual rate:
April (est.) 1,319,000
Walmart has been making big moves to narrow the online retail gap between itself and Amazon.
This month it agreed to buy a controlling stake in Flipkart, a popular online retailer in India. The step represents the largest acquisition yet by the world’s biggest retailer. Walmart serves up quarterly results Thursday. Investors will be listening for any new details on the company’s plans for Flipkart.