The Week Ahead: May 2

Everything you need to know, to face the week ahead.

The Met Gala is tonight.

What's the style code for the fashion extravaganza? “Gilded Glamour.” Whether a “Tax the Rich” dress is part of the theme is still undecided.

Rate hike bonanza

On W ednesday, the Federal Reserve's Chair Jerome Powell is expected to announce a 50-basis-point increase in interest rates, which would be the biggest rate hike in two decades. Inflation isn't solely an issue for Americans, as at least 12 other central banks will release policy updates this week, many of which will most likely include rate hikes.

Earnings

After last week's tech extravaganza, the earnings have been a little quieter lately, but there are still some items to keep an eye on, including Starbucks, Lyft, Uber, and Airbnb.

Jobs report

The labor market is continuing to expand, according to economists. Friday's employment report, which is due April 23, will most likely show the labor market progressing in April. Employers are expected to have added roughly 400,000 jobs with the unemployment rate declining slightly to 3.5 percent from 3.6%.

Everything else

  • The NHL playoffs begin this week, the NBA playoffs enter the second round, and the Kentucky Derby is on Saturday.
  • Eid Al Fitr is Monday, Cinco de Mayo is on Thursday and Mother’s Day is on Sunday.
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