Wall Street week ahead: All eyes on Federal Reserve’s interest rate decision, Jerome Powell’s comments | Stock Market News
Source: Live Mint
In the week ahead on Wall Street, all eyes will be on the US Federal Reserve for its second monetary policy decision of this year. it is widely expected that the central bank would keep interest rates unchanged.
Investors will also keenly watch comments from Fed Chair Jerome Powell during his press conference on Wednesday and on economic projections.
In past few weeks, investor sentiments have been widely hit due to US President Donald Trump’s escalation of trade war after he imposed tariffs on Canada, Mexico, and China.
Among economic reports, markets will be closely eyeing retail sales numbers, industrial production data and home sales figures.
On earnings front, big companies – Nike, FedEx, General Mills, Accenture, and Micron Technology– would declare their quarterly results.
Economic calendar
On March 17 (Monday), separate reports on US retail sales for February and Empire State manufacturing survey for March will be released.
On March 18 (Tuesday), separate reports on housing starts for February and industrial production for February will be declared.
On March 19 (Wednesday), Federal Open Market Committee’s (FOMC) interest rate decision will be announced, followed by Federal Reserve Chair Jerome Powell’s press conference.
On March 20 (Thursday), separate reports on initial jobless claims for the week ended March 15, Philadelphia Fed manufacturing survey for March, existing home sales for February, and US leading economic indicators for February will be released.
Earnings
Following companies are due to report fourth quarter earnings in the week ahead — Science Applications International, FinVolution, KE Holdings, XPeng, Tencent Music Entertainment Group, ZTO Express, HealthEquity, General Mills, GDS Holdings, Ollie’s Bargain Outlet Holdings, Sportradar, Five Below, Accenture, Nike, Micron Technology, FedEx, and Darden Restaurants.
Markets last week
US equities closed higher on Friday to end a bumpy week on a positive note.
The Dow Jones Industrial Average rose 674.62 points, or 1.65%, to 41,488.19. The S&P 500 advanced 117.42 points, or 2.13%, to 5,638.94 and the Nasdaq Composite gained 451.07 points, or 2.61%, at 17,754.09.
In the bond market, the yield on the 10-year Treasury climbed to 4.31% from 4.27%.
