Debt ceiling vote, Nvidia’s new AI chips, jobs report top week ahead

Debt ceiling vote, jobs and housing data and Elizabeth Holmes expected to report to jail to serve her 11 year sentence for fraud.

It will be another busy week for investors with lawmakers voting on the debt ceiling after a compromise was reached over the weekend. 

Last week stocks ended with a rally going into Memorial Day Weekend with financial markets closed on Monday for the holiday honoring all those have served in the U.S. military.

The Nasdaq Composite closed at the highest level since August of last week. 

FOX Business breaks down more events likely to move financial markets in the coming days. 

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The markets will open for the week on Tuesday after being closed for Memorial Day. In earnings, Hewlett-Packard Enterprise and HP will report after the closing bell.

Economic data on Tuesday will include the FHFA monthly home price index, the Case-Shiller home price index and consumer confidence.

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In other news, Elizabeth Holmes, the disgraced founder of Theranos is expected to report to prison.

Wednesday will welcome in earnings from Advance Auto Parts in the morning; while, Chewy, Nordstrom, Okta, and Salesforce will report after markets close.

Economic data includes mortgage applications, the Chicago PMI and JOLTS job openings. 

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Walmart will host it's annual meeting on Wednesday as crime and inflation remain headwinds for many retailers. 

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Prior to the weekend debt deal, U.S. Treasury Secretary Janet Yellen predicted the country could run out of money on Thursday, a vote is now critical ahead of the deadline. 

Earnings on Thursday will begin with Dollar General, Hormel Foods, Lands’ End, Macy’s reporting before markets open.

Later in the day Broadcom, ChargePoint Holdings, Dell Technologies, Lululemon, and VMware will all report earnings after the bell. 

Economic data on Thursday will include productivity, construction spending, ISM manufacturing PMI, EIA weekly crude stocks, and initial jobless claims.

Congress will host a remote hearing on "Advances in AI: Views from Silicon Valley" in connection with the University of San Francisco. 

Lastly, both Honeywell and Oatly will get new CEO's on Thursday.

The monthly jobs report for May will close out a busy week. Economists expect employers slowed hiring adding 183,000 roles down from the 253,000 added in the prior month. 

The unemployment rate is expected to tick up to 3.5% vs. 3.4%. 

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Boeing's CEO Dave Calhoun will speak at Bernstein Strategic Decisions Conference, while Ajay Banga will take over as President of the World Bank for a 5-year term, he was previously CEO of Mastercard. 

Jessica MacKenzie contributed to this article.

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