Business week ahead, May 18-22
A pair of key real estate reports are expected this week. Credit: Newsday/Steve Pfost
KEY EVENT: The state Labor Department on Thursday releases April jobs data for Long Island. It is expected that Nassau and Suffolk lost a significant number of a jobs during the month as the coronavirus spread rapidly in the region. Nationally, 20.5 million jobs were lost in April, worst single-month drop in history.
MONDAY: The National Association of Home Builders releases its May economic optimism report compiled from a survey of home builders on how they expect the U.S. economy to look a few months from now.
TUESDAY: April housing starts from the Commerce Department. Earnings: Home Depot, Walmart.
WEDNESDAY: The Federal Reserve releases the minutes from its April meeting. At that meeting, the Fed warned of “sharp declines in economic activity and a surge in job losses.” Earnings: travel website Expedia, Lowe's, video game maker Take-Two Interactive Software, Target.
THURSDAY: Jobless benefits claims for the week ended May 16 from the Labor Department. Also, existing-home sales from the National Association of Realtors and leading economic indicators from the Conference Board, both for April. Earnings: Garden City kitchenware seller Lifetime Brands, Best Buy, Hormel Foods, Ross Stores.
FRIDAY: Earnings from Alibaba Group, Deere and Foot Locker.
— PETER KING
'It's depressing, it's frustrating' A Newsday investigation revealed that Grumman Aerospace knew toxic chemicals were leaking into the ground in Bethpage. Newsday Associate Editor Paul LaRocco and Deputy Editor David Schwartz explain.
'It's depressing, it's frustrating' A Newsday investigation revealed that Grumman Aerospace knew toxic chemicals were leaking into the ground in Bethpage. Newsday Associate Editor Paul LaRocco and Deputy Editor David Schwartz explain.
