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Inflation Continues Its Downtrend

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Last Week’s Market Activity

This past week, we saw inflation tick downward, and beat analyst expectations again.  Despite this massive win for the economy, markets did not react favorably to the news, as the Dow, Russell, and S&P were all down between 0.25% and 1%, week-over-week.  However, not everything was doom and gloom in the market this week, as the Nasdaq was up nearly a percent, based on some strong performance from the largest tech companies in the world!  This week, we’re in for another big week of earnings, so hang on tight!

Macroeconomic Indicators

There weren’t many notable economic data releases last week.  However, we did get to hear from Jerome Powell, and the Fed.  Yet another quarter-point hike was announced, and Chairman Powell foreshadowed this could be their last rate hike.  While the Fed likely won’t cut rates for a couple of months, a pause on rate hikes would have a tremendous impact on markets.  

A couple of reports that flew under the radar last week were the unemployment report as well as the consumer credit report.  Both came in much hotter than analysts had forecasted.  Unemployment was expected to come in at 180,000, and consumer credit was expected to come in at $16.8 Billion.  However, they came in at 253,000 and $26.5 Billion, respectively.  If these trends continue, there will certainly be turmoil for consumers in the near future.

Upcoming Market Catalysts

While the economic data being released this week likely won’t move markets in a major way, it’ll certainly be important to pay attention to!  This week, we’ll get retail sales data on Tuesday, as well as housing starts and building permits on Wednesday.  These will be very important to pay attention to, as they will help us tell how the average consumer is fairing amidst rising rates, and the current turmoil in the housing market. 

Notable Earnings Releases

Although we don’t have any big tech companies reporting their earnings this week, we will get to hear from some key retailers, and large Chinese companies, such as:

05/15 – Nu Holdings (NU), Monday.com (MNDY) 
05/16 – The Home Depot (HD), Sea Limited (SE), Baidu (BIDU), Vodafone Group (VOD), Keysight Technologies (KEYS), Tencent Music Entertainment Group (TME)
05/17 – Cisco Systems (CSCO), TJX Companies (TJX), Target Corporation (TGT)
05/18 – Walmart (WMT), Alibaba Group (BABA), Applied Materials (AMAT), National Grid Transco (NGG), Ross Stores (ROST)
05/19 – Deere & Company (DE), Foot Locker (FL)

All eyes will be on retailers this week, as HD, TJX, TGT, WMT, and ROST report their earnings.  All of these retailers cater to a wide variety of customers, so it will be listening to their commentary around spending trends will be key!

We’ll also get to hear from some large Chinese companies, like BIDU, TME, and BABA.  Listening to their earnings call will be important, as they will be able to provide great commentary on the Chinese economy. 

⚡ Watchlist ⚡

Monitoring the market conditions this week.

⚡ Trade Wins from Last Week ⚡

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