What will drive the markets this week?
Global equities closed mix last Friday with a rise in US stocks and a drop in European shares, in response to economic various economic data, monetary policy and mixed big tech earnings reports.
This week investors will review earnings from companies including Pfizer, Disney, CVS, Coca-Cola, PepsiCo, Uber, Coinbase, Take-Two Interactive, Chipotle Mexican Grill, Twitter, Coupang, and more.
In economic data, the US Bureau of Labour Statistics will release its January Consumer Price Index (CPI) on Thursday, which is projected to show inflation rose 0.4% in January, down from 0.5% in December, in a sign that price hikes are slowing. However, the annual pace of inflation will likely remain at multi-decade highs.
Meanwhile, the University of Michigan will release a preliminary reading of its Consumer Sentiment Index for the month of February and analysts expect a slight rise in sentiment.
Monday, February 7:
- Earnings: Amgen, Tyson Foods, ON Semiconductor, Principal Financial Group, Take-Two Interactive, Nuance Communications, and Hasbro report.
- Consumer Credit (December)
Tuesday February 8:
- Earnings: Pfizer, S&P global, Fiserv, Thompson Reuters, Coinbase Global, KKR & Co., Chipotle Mexican Grill, DuPont, Sysco Corporation, Yum! Brands, Willis Towers Watson, and GlobalFoundries report.
- IBD/TIPP Economic Optimism (February)
Wednesday, February 9:
- Earnings: Toyota, Disney, CVS Health Corporation, GlaxoSmithKline, Uber, Honda, O’Reilly Automotive, Manulife Financial, Motorola, and Equifax report.
- Wholesale Inventories (December)
- WASDE Report
- RBI Interest Rate Decision
Thursday, February 10:
- Earnings: Coca-Cola, PepsiCo, Philip Morris International, Moody’s Corporation, RELX, Illumina, DexCom, and Twitter report.
- Consumer Price Index (January)
- China Vehicle Sales (January)
Friday, February 11:
- Earnings: Dominion Energy, Apollo Global Management, Coupang, and Magna International report.
- Michigan Consumer Sentiment Index, preliminary (February).