On Wall Street in the week ahead, the spotlight will be on the two economic data – the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) Price Index, and the second estimate for fourth quarter gross domestic product (GDP).
Investors will also closely monitor reports on personal income and spending for January, and consumer confidence for February.
In earnings calendar, chipmaker Nvidia wil be in focus as it is scheduled to declare fourth quarter results on Wednesday. Other big names to report earnings include Home Depot, Warner Bros. Discovery, Intuit, Salesforce, and Workday.
Economic calendar
On February 25 (Tuesday), separate reports on S&P Case-Shiller home price index (20 cities) for December and consumer confidence for February will be released.
On February 26 (Wednesday), a report on new home sales for January will be declared.
On February 27 (Thursday), second reading of GDP for fourth quarter and pending home sales data for January will be released.
On February 28 (Friday), separate reports on personal income and personal spending for January, PCE index for January, advanced US trade balance in goods for January, and Chicago Business Barometer (PMI) will be declared.
Earnings
Following companies are due to report fourth quarter earnings in the week ahead — ONEOK, Public Storage, Trip.com Group, Zoom Communications, and SBA Communications, Home Depot, Intuit, Workday, Sempra, Keurig Dr Pepper, Nvidia, Salesforce, Lowe’s, TJX, Stellantis, Vistra, HP, Rocket, Warner Bros. Discovery, NetApp, EOG Resources, Chart Industries, and AES.
Markets last week
US stocks closed sharply lower on Friday on slowdown worries.
The Dow Jones Industrial Average finished at 43,428.02, down 1.7 percent to around 750 points.
The broad-based S&P 500 also dropped 1.7 percent to 6,013.13, while the tech-rich Nasdaq Composite Index fell 2.2 percent to 19,524.01.
On Friday, an S&P Global reading on US services industry activity fell to a 25-month low, while a University of Michigan survey of consumer sentiment tumbled nearly 10 per cent from January.
In the bond market, the yield on the 10-year Treasury sank to 4.42 per cent from 4.51 per cent.
