What to Expect in the Week Ahead (Tesla, Alphabet Earnings; Global Flash PMI Reports)

Elon Musk's electric vehicle company Tesla, which reports results on Tuesday after the close, is in the spotlight partly due to the billionaire's close ties to Trump. Alphabet is set to report its earnings on Thursday after the market closes. As usual, attention will center on the search giant's advertising revenue and the performance of its cloud division.

Investors will be alert for any further declines in consumer sentiment and inflation expectations when the University of Michigan releases updated April data on Friday. Recent survey respondents have increasingly focused on tariffs and their potential impact on the economy and inflation.

On Wednesday, The Fed’s Beige Book will provide anecdotes of regional economic conditions and offer insights into the influence of government policy and uncertainty on business decisions. Earlier that day, the release of global flash PMI reports will provide an early indication of the trade war's impact. Additionally, a slight increase in March's new-home sales is expected, as builders continue offering incentives to attract buyers amid mortgage rates staying above 6.5% since October.

Data on home resales will be released on Thursday. A report on March durable goods orders the same day will indicate business equipment demand.