Let's take a look at what is on tap next
week in our segment next week on the street.
Of course, where we preview events that are short
of markets in the days ahead. So first up
the deadline to raise the US debt limit in order
to avoid default is looming, the White House and
top leaders in Congress will meet next week on GP
demands for budget cuts in exchange for raising the debt
ceiling. The meeting was postponed from today and comes
after Tuesday's meeting ended in a stalemate while the White
House today maintaining its position that the debt ceiling and
spending negotiations must be separate. And Treasury Secretary Janet
Yellen has signaled that the US could default on its
debt as soon as June 1st. We also have
a big week of earnings on tap. Uh That'll
be moving the markets in addition to any updates on
the debt ceiling. So some of the country's biggest
retailers set to report you see them on your screen
there. Home Depot Target TJ X Walmart all on
tap in the week ahead. All results from the
companies especially Target and Walmart tend to have an outsized
impact on the stock market. And they also give
us a key gauge of consumer spending and the ongoing
shift away from discretionary item purchases to buy more necessities
. Amid this inflationary environment, investors want to see
that inventory levels are starting to come down and that
e commerce investments are paying off. So we'll bring
you the results and the market reaction all next week
and be earnings aside. We're also gonna get some
retail data on the broader scale. So this will
coincide nicely with those earnings. A retail sales figures
highlight the week of economic data due out next week
. Uh retail sales down 1% in the month before
. Data from the analytics company place or A I
shows monthly store visits fell in the first quarter.
But that shoppers are spending more time browsing in stores
, meaning that they might be buying more new data
from the housing market out next week will also give
us a closer look at how the industry is doing
with housing starts and building permits. Giving us a
sense of how new home construction is faring and then
existing home sales showing us the market of previously owned
homes even as rates, mortgage rates remain elevated.
So that will be important. Former executives of two
regional banks that collapsed earlier this year. They'll testify
on the hill on May 16th on Tuesday. The
Senate banking committee will hear from Gregory Becker, the
former Ceo of Silicon Valley Bank as well. As
Scott, she and Eric Howell, both formerly top
executives at Signature Bank. It'll be the first time
that they publicly address how the two banks failed as
the fallout continues throughout the regional banking sector. You
can expect the former leaders to face tough questions from
senators on both sides of the aisle. And we're
also due for the first ever congressional testimony from Open
A I founder and CEO Sam Altman as Washington grapples
with how to regulate rapidly advancing artificial intelligence tools.
The leader of the company behind Generative A I chatbot
chat GP T is set to appear next Tuesday before
the Senate judiciary subcommittee on privacy technology and the law
. The night before Altman is scheduled to join lawmakers
from both parties for a dinner aimed at educating members
. According to NBC news, one of the co
hosts reported that at least 50 lawmakers have already R
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