The Week Ahead: Apple Earnings, Jobs Report

Jeremy Glaser: It will be a full week on both the earnings and data front. Shares of Apple have been under pressure in recent weeks over smartphone slowdown fears. The firm's earnings on Tuesday will provide an update on how demand is holding up.

Pharma giants Pfizer and Merck both are due to report this week and both are trading in 4-star territory. McDonald's has been moving to recapture customers through both value and experience improvements. Analyst R.J. Hottovy thinks the firm is operating from a position of strength now and sees shares as undervalued. Other earnings include Snap, Under Amour, CBS, and Kraft Heinz.

The Fed is widely expected to stand pat on rates at its meeting this week, but the market is still pricing in a near certain increase at the next meeting in June.

April's jobs report which will be released Friday will reveal if hiring has rebounded after March's softer than expected number. The market will also be looking out for signs of wage growth pressure. We'll be looking for consumption data, auto sales, the ISM manufacturing and services indexes, productivity and factory orders data as well.

Stay tuned for our take on these stories, as well as our full coverage of the Berkshire Hathaway meeting next weekend.