Last week, we saw quite a bit of volatility in the markets, as there was quite a mixed bag of news. There were some incredible earnings reports from companies like Target and Crowdstrike. However, there were quite a few disappointments in earnings from companies like Broadcom and Costco. Unfortunately, we haven’t made it through the storm yet, as we still have some incredibly important economic events this week!
In addition to the earnings upsets of last week, we also saw Jerome Powell mention that we weren’t far from rate cuts right before nonfarm payrolls blew expectations out of the water, coming in at 275,000 in the month of February, compared to an expected 198,000. This has made people skeptical of whether or not we will actually see any rate cuts soon.
There are some rather important economic data releases this week, starting with CPI data on Tuesday. We then get PPI data as well as retail sales numbers on Thursday, followed by consumer sentiment on Friday. There will be a lot of attention on inflation data this week, as last month, inflation came in a bit hotter than anticipated. If this trend continues, then there will be widespread concern in markets, which will undoubtedly lead to volatility.
This week, we still have some relatively large and influential companies reporting their earnings, such as:
03/11 – Oracle Corporation (ORCL), Vail Resorts (MTN)
03/12 – Archer-Daniels-Midland Company (ADM), On Holding AG (ONON), Kohl’s Corporation (KSS)
03/13 – Lennar Corporation (LEN/LEN.B), Dollar Tree, Inc. (DLTR), Williams-Sonoma, Inc. (WSM), UiPath, Inc. (PATH), SentinelOne (S)
03/14 – Adobe Inc. (ADBE), Dollar General Corporation (DG), Ulta Beauty (ULTA), KE Holdings (BEKE), Dick’s Sporting Goods (DKS)
This week, everyone will be paying attention to what ORCL and ADBE have to say in their earnings report, as they are among the few remaining large tech companies that have not yet reported their earnings. It will be interesting to hear what they have to say regarding artificial intelligence and how it has impacted them in a positive or negative way.
There will also be a good bit of focus on LEN, as they are one of the largest homebuilders in the country, and the new construction industry is continuing to boom despite sky high-interest rates.
Monitoring the market conditions this week.
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