The Week Ahead: Second Quarter Starts Off With a Bang

Jeremy Glaser: Welcome to The Week Ahead. As the second quarter gets underway the market will have a flood of data to process.

The employment report on Friday is likely to be the most closely watched item in the week. Job growth has looked good recently, but Morningstar's Bob Johnson warns that there are some seasonal factors that may have made recent number look a bit better than the underlying economic reality.

We'll also get an update on the industrial economy in a few places. The first is the ISM Index which has looked very strong recently. Auto sales are also due on Monday, and factory orders will be released on Tuesday.

The minutes of the Fed's latest meeting will be released Wednesday. These will be parsed for any hints on the pace of future rate hikes.

On the earnings front, undervalued Bed Bath & Beyond will report Wednesday. Analyst Jaime Katz thinks the market doesn't appreciate the firm’s decentralized merchandising strategy, improving online presence and untapped international growth opportunities.

Other earnings this week include Walgreens, Yum China, and Constellation Brands.

Stay tuned to Morningstar for our take on these stories.