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Last Week’s Market Activity

This past week was categorized by widespread green across the market, with all major US indices up between 1% and 4% week-over-week.  A combination of better-than-expected earnings and economic data led stocks to be green across the board.  This week things will get even hotter as big tech reports earnings and we hear from Jerome Powell with regard to the federal funds rate.

Macroeconomic Indicators

Aside from some stellar earnings last week, we also saw PCE price index come in line with expectations, as well as Q4 GDP slightly beating expectations, coming in at 2.9% as opposed to the forecasted 2.8%.  This, of course, was a huge contributor to the rally that we saw this past week.  In addition, we also saw an increase in pending home sales, as well as a decrease in both real disposable incomes and real consumer spending.

Upcoming Market Catalysts

This week will be jam-packed in terms of both economic data releases and earnings.  Aside from the countless companies reporting earnings this week, the Fed will announce February’s federal funds rate, as well as their end-of-year projections, on Wednesday.  Markets are pricing in a quarter-point hike, so if we see anything different, markets will undoubtedly move in a major way.  

Aside from the Fed’s announcement, we’ll also get information on nonfarm payrolls, the unemployment rate, average hourly earnings, and labor-force participation rate on Friday.  These are all key metrics that the Fed has been using to make its decisions on interest rates, so these releases will be important to pay attention to.

Notable Earnings Releases

As we mentioned before, we have another stacked week in terms of company earnings.  Some of the largest companies in the world, from all sectors, will be reporting their earnings, including:

01/30 – NXP Semiconductors (NXPI), GE HealthCare Technologies (GEHC), Canon (CAJ)
01/31 – Exxon Mobil Corporation (XOM), Pfizer (PFE), McDonald’s Corporation (MCD), United Parcel Service (UPS), Amgen (AMGN), Caterpillar (CAT), Advanced Micro Devices (AMD), Stryker Corporation (SYK), Mondeleze International (MDLZ), Canadian Pacific Railway (CP)
02/01 – Meta Platforms (META), Thermo Fisher Scientific (TMO), T-Mobile US (TMUS), Sony Group (SONY)
02/02 – Apple (AAPL), Alphabet (GOOG/GOOGL), Amazon.com (AMZN), Eli Lilly and Company (LLY), Merck & Company (MRK), ConocoPhillips (COP), QUALCOMM Incorporated (QCOM), Honeywell International (HON), Starbucks Corporation (SBUX), Estee Lauder Companies (EL)
02/03 – Cigna Corporation (CI), Regeneron Pharmaceuticals (REGN), Church & Dwight Company (CHD), Ubiquiti (UI)

Once again, all eyes will be on big tech this week, with META reporting on Wednesday, and AAPL, GOOG, and AMZN all reporting on Thursday.  It will be interesting to hear what all of these companies have to say after the waves of recent layoffs and tightening of spending.

We’ll also hear from important semiconductor companies like NXPI, AMD, and QCOM.  Unfortunately, semiconductor companies’ earnings have been all over the place, so it’s tough to tell how they fared in the fourth quarter.  

We’ll also hear from some of the most important logistics companies in the world, such as UPS and CP.  These logistics giants are a great way to gauge how the economy is performing, as they transport an incredibly high percentage of goods that are bought.

Lastly, we’ll also hear from some very important consumer companies, like MCD, MDLZ, SBUX, EL, and CHD.  All of these companies will provide key information on how the consumer is faring and where they are spending their money.

⚡ Watchlist ⚡

Monitoring the market conditions this week.

⚡ Trade Wins from Last Week ⚡

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