What will drive the markets this week?
Global stocks closed mixed Friday with major indices suffering losses for the week as a fresh round of hawkish comments from Federal Reserve officials resurfaced expectations for imminent policy tightening and rising consumer inflation.
The earning season kicks in full swing with more large-cap financial firms including Charles Schwab, Goldman Sachs, BNY Mellon, State Street, and PNC Financial reporting results. Analysts project an overall earnings decline of 0.7% for S&P 500 financials in the fourth quarter of 2021.
Investors will also parse economic data, economic sentiments, and Manufacturing Indexes from across the world.
Monday, January 17:
- U.S. markets closed for Martin Luther King Jr. Day.
Tuesday, January 18:
- Earnings: Charles Schwab, Goldman Sachs, PNC Financial, Truist Financial, BNY Mellon, State Street, J.B. Hunt, and Citrix Systems report.
- NY Empire State Manufacturing Index (January)
- NAHB/Wells Fargo Housing Market Index (January)
- ZEW Economic Sentiment Index (January)
Wednesday, January 19:
- Earnings: UnitedHealth Group, Procter & Gamble, Bank of America, ASML, Morgan Stanley, U.S. Bancorp, Discover Financial Services, Citizens Financial, United Airlines, and Comerica report.
- U.S. Housing Starts and Building Permits (December)
Thursday, January 20:
- Earnings: Netflix, Union Pacific Corporation, Intuitive Surgical, PPG Industries, SVB Financial, The Travelers Companies, and Northern Trust Corporation report.
- U.S. Existing Homes Sales (December)
- EA Inflation Rate (December)
Friday, January 21:
- Earnings: Schlumberger, and Ally Financial report.
- CB Leading Index (December)
- EA Flash Consumer Confidence (January)