The Week Ahead: Apple, Facebook, and the Fed on Deck

Jeremy Glaser: Welcome to The Week Ahead.

First-quarter earnings will keep rolling in this week as data will reveal if there was a rebound in April from a seemingly weak economy in March.

Apple reports Tuesday afternoon and will be as closely eyed as expectations around the firm's new iPhones continues to grow. Pharma giants Merck and Pfizer are also due on Tuesday.

Media companies CBS, Viacom, and Time Warner will all report this week. We'll be listening in for management commentary on how they're navigating the changing content landscape.

Facebook's results should reaffirm, as they did last quarter, what analyst Ali Mogharabi describes as the firm's advertising and social networking leadership. Other reports include BP, Tesla, and Yum Brands.

The Fed meets during the week and will make a rate decision on Wednesday. The market overwhelming expects rates to remain unchanged, but the statement may still offer some clues as to what the path of increases will look like.

Friday will bring April's employment report, which comes after a disappointing March. Consumption data on Monday, along with its underlying inflation gauge, will also be in focus. Other data include the ISM index for both manufacturing and services, auto sales, trade balance, and productivity.

Stay tuned to Morningstar for our take on these stories.