05:24 AM EDT, 05/06/2024 (MT Newswires) -- US equity investors will look out this week for the latest read on the Michigan consumer sentiment gauge, quarterly earnings, and views from Federal Reserve officials.

* This week will be relatively quiet from a data standpoint. Weekly initial jobless claims are due Thursday and the University of Michigan's consumer sentiment update for May will be out on Friday.

* For the week ended April 27, the US initial jobless claims were unchanged sequentially but lower than the average analyst estimate compiled by Bloomberg. The four-week moving average also fell.

* For April, the Michigan consumer sentiment index was revised downward from the preliminary estimate, compared with expectations for no revision in a survey compiled by Bloomberg. Respondents expected a 3.2% inflation rate over the next year and 3% annual inflation over the next five years, faster than 2.9% and 2.8%, respectively, in March.

* Walt Disney ( DIS ) , Palantir Technologies ( PLTR ) , Uber Technologies ( UBER ) and Airbnb ( ABNB ) are among the companies that will report quarterly results this week.

* S&P 500 earnings for Q1 increased 3% year-over-year, with roughly 80% of companies reported, slightly below the FactSet consensus estimate as of March 31 for growth of 3.1%, according to a note from D. A. Davidson late Friday.

* FactSet's Q1 blended earnings estimate currently implies S&P 500 earnings growth of 4.1% year over year, indicating that despite current performance being in line with estimates, remaining estimates will likely outperform quarter-end expectations from here, as per the Davidson note.

* Fed officials on the speaking circuit this week include Federal Reserve Bank of Richmond president Tom Barkin, Federal Reserve board member Lisa Cook, Federal Reserve vice chair for supervision Michael Barr, and Federal Reserve Bank of New York president John Williams. Investors will look out for more clarity on the monetary policy path for this year as that's been a major driver of performance for equities.