February 22, 2024
Investors

Wall Street week ahead: Investors eye inflation, industrial production data, key earnings


Stock market investors on Wall Street in the week ahead will be watching key economic data including consumer price index, producer price index and industrial production report.

Apart from the US economic data, some key earnings including Coca-Cola, Shopify, Cisco, and Sony will also be the focus of the investors.

Economic events

On February 13, data on consumer price index (CPI) for January will be released.

February 15 will see the release of US retail sales data for January and industrial production data for January.

Data on producer price index (PPI) for January will be released on February 16.

Earnings

Following companies are due to report quarterly earnings in the week ahead—

Arista Networks, Avis Budget Group, The Goodyear Tire & Rubber Company, Coca-Cola, Shopify, Airbnb, Marriott International, Datadog, Molson Coors Beverage Company, Hasbro, Airbnb, Biogen, Upstart Holdings, Lyft, Cisco, Sony, The Kraft Heinz Company, Global Payments, Twilio, QuantumScape, Applied Materials, Deere, Stellantis, DoorDash, The Wendy’s Company, Coinbase Global, SunPower, Roku, TC Energy, and Vulcan Materials.

Markets last week

On Friday (February 9) , the Dow Jones Industrial Average fell 54.64 points, or 0.14 per cent, to 38,671.69, the S&P 500 gained 28.70 points, or 0.57 per cent, to 5,026.61 and the Nasdaq Composite gained 196.95 points, or 1.25 per cent, to 15,990.66.

The yield on benchmark US 10-year notes rose 0.7 basis points to 4.177 per cent, from 4.17 per cent late on Thursday. The 2-year note yield rose 3.2 basis points to 4.4883 per cent, from 4.456 per cent late on Thursday.

The US dollar fell to 149.37 yen from 149.40 Japanese yen. The euro rose to $1.0785 from $1.0775.

The benchmark US crude oil for March delivery rose 62 cents to $76.84 per barrel on Friday. Brent crude for April delivery rose 56 cents to $82.19 per barrel.

Gold for April delivery fell $9.20 to $2,038.70 per ounce. Silver for March delivery fell 5 cents to $22.59 per ounce.

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