Tuesday, May 15, 2018

Photos/REUTERS/Lucy Nicholson

On Tuesday morning, the April report on retail sales will be released, with economists forecasting a 0.3% increase in sales over the prior month and a 0.4% increase when stripping out gas and car sales. Ian Shepherdson at Pantheon Macroeconomics, however, expects that retail sales will show no growth over the prior month, citing auto sales as a likely drag on the headline number with a 0.2% increase in consumption when stripping out these numbers.

Manufacturing activity in New York state and a reading on homebuilder sentiment in May will fill out the economic data schedule on Tuesday.

Home Depot (HD) announced Q1 earnings of $2.08 per share, which was stronger than the $2.06 expected by analysts. However, revenue came up short, coming in at $24.95 billion compared to expectations for $25.21 billion. Comparable store sales were up 4.2% during the period.

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A giant panda enjoys a shower to cool off the heat at Beijing Zoo on May 14, 2018 in Beijing, China. Zookeeper gave showers to giant panda as the temperature reached 34 degrees Celsius on Monday in Beijing. (Photo by VCG/VCG via Getty Images)

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