Wall Street week ahead: Focus on Donald Trump’s inauguration, major earnings, S&P PMI data | Stock Market News
Source: Live Mint
On Wall Street, market participants will see the holiday-shortened but a busy week ahead.
On Monday, markets will remain closed on account of Martin Luther King Jr. Day.
As on Monday Donald Trump’s inauguration as US President is scheduled, investors will closely watch the executive orders of the new administration to be announced in the first few days.
The economic calendar will see release of separate reports on existing home sales, S&P flash PMI for services and manufacturing sectors.
In the week ahead, earnings reports from some of the biggest companies in the world will also be released. The big names include Netflix, American Express, Johnson & Johnson, and Procter & Gamble.
Economic calendar
On January 21 (Tuesday), none scheduled.
On January 22 (Wednesday), a report on US leading economic indicators for December will be released.
On January 23 (Thursday), initial jobless claims data for the week ended January 18 will be declared.
On January 24 (Friday), separate reports on existing home sales for December, consumer sentiment (final) for January, S&P flash US services PMI and S&P flash US manufacturing PMI for January will be released.
Earnings
Following companies are due to report fourth quarter earnings in the week ahead —Netflix, Prologis, Interactive Brokers Group, 3M, Capital One Financial, Procter & Gamble, Johnson & Johnson, Abbott Laboratories, GE Vernova, Travelers, United Airlines Holdings, Intuitive Surgical Group, Union Pacific, Elevance Health, CSX, American Airlines Group, American Express, Verizon Communications, NextEra Energy, and HCA Healthcare.
Markets last week
US stock indices closed higher on Friday on optimism over the health of the US economy.
The Dow Jones Industrial Average rose 334.70 points, or 0.78 per cent, to 43,487.83, the S&P 500 gained 59.32 points, or 1.00 per cent, to 5,996.66 and the Nasdaq Composite gained 291.91 points, or 1.51 per cent, to 19,630.20.
For the week, the Dow rose 3.69 per cent, the S&P gained 2.92 per cent and the Nasdaq climbed 2.43 per cent.
The 10-year Treasury yield fell to 4.61 per cent, from 4.62 per cent.
