Wall Street week ahead: Spotlight on Trump trade war, jobs & manufacturing data | Stock Market News
Source: Live Mint
Wall Street investors will have a plenty of economic data to watch for in the week ahead. The major spotlight would be on jobs data for January, the University of Michigan’s preliminary consumer sentiment report, and manufacturing data for January.
Besides economic data, the markets are likely to show some reactions to Donald Trump’s trade war, sparked by the US imposing sweeping tariffs on imports from Canada, Mexico and China.
In retaliation, Canada and Mexico have also ordered tariffs on goods from the US.
The earnings season will continue to remain in focus with big companies such as Google- parent Alphabet, Walt Disney,
Qualcomm, Tyson Foods, Merck, and PepsiCo slated to declare their results.
Economic calendar
On February 3 (Monday), separate reports on S&P final US manufacturing PMI for January, ISM manufacturing for January, and TBA auto salesfor January will be released.
On February 4 (Tuesday), separate reports on job openings for December and factory orders for December will be released.
On February 5 (Wednesday), ADP employment for January, US trade deficit for December, S&P final US services PMI for January, and ISM services for January will be released.
On February 6 (Thursday), separate reports on initial jobless claims for the week ended February 1 and US productivity Q4 will be released.
On February 7 (Friday), separate reports on US employment, unemployment for January, consumer sentiment (prelim) for January, and consumer credit for December will be released.
Q4 Earnings
Following companies are due to report fourth quarter earnings in the week ahead — Palantir Technologies, NXP Semiconductors, IDEXX Laboratories, Tyson Foods, Clorox, Alphabet, Merck, PepsiCo, Advanced Micro Devices, Amgen, Novo Nordisk, Walt Disney, Qualcomm, Arm Holdings, Uber Technologies, Eli Lilly, Linde, Honeywell International, ConocoPhillips, Neurocrine Biosciences, Bristol-Myers Squibb, Fortive, Cboe Global Markets, Banco Bradesco, and Kimco Realty.
Markets last week
US stocks ended lower on Friday on President Donald Trump’s tariffs threat.
The S&P 500 lost 31.10 points, or 0.51 per cent, to end at 6,040.07 points, while the Nasdaq Composite lost 58.47 points, or 0.30 per cent, to 19,623.27. The Dow Jones Industrial Average fell 341.68 points, or 0.76 per cent, to 44,540.45.
The yield on the 10-year Treasury rose to 4.54 per cent from 4.52 per cent.
