Walmart earnings, FedSpeak, housing data: What to Watch

Walmart earnings

Walmart Inc. (WMT) will report its fiscal first-quarter earnings before the market opens on Tuesday, May 17. The retailer is expected to report earnings per share of $1.48 on revenue of $146.5 billion, according to a consensus of analysts' estimates compiled by FactSet. This would compare to earnings per share of $1.39 on revenue of $141.9 billion in the prior-year period.

Walmart is grappling with higher costs, including wages and transportation, and is looking to raise prices to offset these pressures. The retailer has also been investing in e-commerce and grocery delivery, which could weigh on its margins.

FedSpeak

Federal Reserve officials will be speaking throughout the week, including Fed Chair Jerome Powell on Wednesday, May 18. Investors will be listening closely to their comments for clues about the Fed's plans for interest rates.

The Fed has been raising interest rates in an effort to tame inflation. The central bank is expected to continue raising rates this year, but investors are looking for any signs that the Fed may be considering slowing the pace of its hikes or even pausing them later this year.

Housing data

The National Association of Realtors (NAR) will release its existing-home sales report for April on Wednesday, May 18. The report is expected to show that existing-home sales fell by 2.5% in April to a seasonally adjusted annual rate of 5.4 million units, according to a consensus of analysts' estimates compiled by FactSet.

The housing market has been cooling in recent months as mortgage rates have risen. Higher rates are making it more expensive for buyers to finance a home, which is leading to a decline in sales and prices.