Time now for to watch for the week of May 4th.

A busy week ahead for markets with big earnings reports including Palenteer, Novo Norris, Uber and McDonald's.

Let's hone in on semis, AMD reporting on Tuesday after the close, story is all about AI and data center momentum.

Analyst expecting the chip maker to beat on the top line, driven by strong demand for its chips as cloud and enterprise customers lean further into AI workloads.

Turning to the media space, we're getting quarterly reports from Paramount Skydance and Warner Brothers Discovery with their merger moving closer to a potential third quarter close.

Disney also reporting for its fiscal second quarter, that company flagging pressure from weaker park attendance, but analyst anticipating improvement in stream profitability.

This will also be the first earnings report for Disney since Josh Demaro took over as CEO.

On the macro side, all eyes on Friday's jobs report, comments forecasting a sharp slowdown in hiring with payrolls rising by 60,000 in April, while wage growth ticks slightly higher and unemployment holds steady at 4.3%.

And throughout the week, we'll be parsing fresh Fed commentary, policy makers holding rate steady at April's FOMC meeting, and investors will be looking for any clues on whether a softer labor market starts to shift the path forward on cuts.