The busiest week of Q1 earnings season is now in the history books, and contrary to widespread expectations of collapse several blowout earnings reports by the megacaps helped push spoos to 4,200. And while earnings season slows down a bit this week (Apple is the last GAMMA stock set to report on Thursday), we have a sharp pick up in economic data with the ISM manufacturing report today (it beat expectations modestly but was still in contraction), the May FOMC meeting on Wednesday where the Fed is expected to hike another 25bps to 5.25%, the highest rate since 2007, the ECB decision on Thursday where most expect a 25bps hike in the deposit rate to 3.25%, but there is some chance that a 50bps hike could happen, before finally we get the April payrolls report on Friday which may surprise many with a sharp dip to the downside.

Courtesy of Rabobank and Bank of America, here are the key events this week:

Finally, looking at just the US, Goldman notes that the key economic data releases this week are the ISM manufacturing report on Monday and the employment situation report on Friday. The May FOMC meeting is this week, with the release of the statement at 2:00 PM ET on Wednesday, followed by Chair Powell’s press conference at 2:30 PM. There are a few speaking engagements from Fed officials this week.

Monday, May 1

Tuesday, May 2

Wednesday, May 3

Thursday, May 4

Friday, May 5

Source: BofA, Goldman, Rabobank