Wall Street week ahead: Inflation data, retail sales, big banks earnings iin focus | Stock Market News
Source: Live Mint
The week ahead for Wall Street investors is going to be busy as they will witness crucial inflation data, with producer and consumer price reports slated to be declared.
Among other economic data, market participants will also get retail sales and industrial production reports to monitor.
The week will also see earnings reports from major banks JPMorgan, Goldman Sachs, Wells Fargo and Citigroup.
Economic calendar
On January 14 (Tuesday), separate reports on NFIB optimism index for December, Producer Price Index (PPI) for December, and Fed Beige Book will be released.
On January 15 (Wednesday) , separate reports on Consumer Price Index (CPI) for December and Empire State manufacturing survey for January will be unveiled.
On January 16 (Thursday), data on initial jobless claims for week ended January 11, US retail sales for December and Philadelphia Fed manufacturing survey for January will be declared.
On January 17 (Friday), separate reports on housing starts for December and industrial production for December will be released.
Earnings
Following companies are due to report fourth quarter earnings in the week ahead — Applied Digital, JPMorgan Chase, Wells Fargo, Goldman Sachs, Citigroup, Kinder Morgan, UnitedHealth, Bank of America, Morgan Stanley, PNC Financial Services Group, US Bancorp, Truist Financial, Schlumberger, Fastenal, State Street, and Regions Financial.
Markets last week
US stocks ended lower on Friday after an upbeat jobs data stoked fresh inflation fears and reinforcing bets that the Federal Reserve will be cautious in cutting interest rates this year.
A hotter-than-expected jobs growth could translate into faster economic expansion, leading to a rise in consumer prices.
The Dow Jones Industrial Average fell 696.75 points, or 1.63 per cent, to 41,938.45, the S&P 500 lost 91.21 points, or 1.54 per cent, to 5,827.04 and the Nasdaq Composite lost 317.25 points, or 1.63 per cent, to 19,161.63.
A Labor Department report showed job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1 per cent.
In the bond market, the yield on the 10-year Treasury jumped to 4.76 per cent from 4.68 per cent. The yield on the 2-year Treasury climbed to 4.38 per cent from 4.27 per cent.
