Wall Street week ahead: Spotlight on consumer price inflation ahead of Fed policy meet

On Wall Street in the week ahead, the spotlight will be on consumer price inflation data, slated to be released on Wednesday.

Besides, investors will also get Producer Price Index data and consumer sentiment report to analyse.

According to a Bloomberg report, Bureau of Labor Statistics’ data are projected to show that the consumer price index minus food and energy rose 0.3 per cent in February.

The CPI data would also provide clues on the Federal Reserve’s March 18-19 monetary policy outcome.

The ongoing trade war will also remain in focus in the week as US President Donald Trump’s tariffs against Canada, Mexico, and China have left the financial markets in turmoil. 

In the earnings calendar, major companies including Adobe, Ferguson Enterprises, Dick’s Sporting Goods, Dollar General, and Kohl’s will report quarterly results.

Economic calendar

On March 11 (Tuesday), separate reports on NFIB Optimism index for February and job openings for January will be released.

On March 12 (Wednesday), Consumer Price Index (CPI) for February will be declared.

On March 13 (Thursday), data on Initial jobless claims for the week ended March 8 and Producer Price Index (PPI) for February will be released.

On March 14 (Friday), preliminary report on consumer sentiment for March will be released.

Earnings

Following companies are due to report fourth quarter earnings in the week ahead — BioNTech, Vail Resorts, Paymentus Holdings, Hesai Group, NET Power, Ferguson Enterprises, Viking Holdings, DICK’S Sporting Goods, Ciena, Kohl’s, Adobe, Crown Castle, UiPath, SentinelOne, ABM Industries, Ulta Beauty, DocuSign, Dollar General, Futu Holdings, Rubrik, and Li Auto.

Markets last week

US stocks ended higher on Friday, after Federal Reserve Chair Jerome Powell said the economy was “in a good place”.

Powell said the central bank will not be quick to cut interest rates and echoed concerns about President Donald Trump’s policies.

The Dow Jones Industrial Average rose 222.64 points, or 0.52 per cent, to 42,801.72, the S&P 500 gained 31.68 points, or 0.55 per cent, to 5,770.20 and the Nasdaq Composite gained 126.97 points, or 0.70 per cent, to 18,196.22.

For the week, the S&P 500 ended down 3.1 per cent, the Nasdaq declined 3.45 per cent, and the Dow fell 2.37 per cent.

In the bond market, the 10-year Treasury yield fell as low as 4.22 per cent before climbing to 4.30 per cent, up from 4.28 per cent.