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[mstock id=”3024″]
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Inflation Won’t Go Away!

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Last Week’s Market Activity

This past week, inflation came in a bit hotter than expected, with year-over-year CPI down slightly month-over-month. This along with PPI metrics missing to the upside led the markets to draw down this week. The Nasdaq, Dow, and S&P 500 were all down just under a percent, week-over-week, whereas the Russell 2000 was up just over a percent. Although we have a shortened trading week this week, there’s still the potential for a major market shakeup. We’ve got some very large companies reporting their earnings as well as some important economic data releases!

Macroeconomic Indicators

As we mentioned previously, the inflation numbers came in a bit hotter than expected this month.  Month-over-month core CPI was 0.4% vs. an expected 0.3%, year-over-year CPI was 6.4% vs. an expected 6.2%, and lastly, year-over-year core CPI was 5.6%, compared to an expected 5.5%.  While most inflation metrics were down when compared to the previous release, they were not where the street expected them to be.  This, of course, led to a lot of volatility in markets, leading both the indices and individual stocks to sell off.  

Upcoming Market Catalysts

Even though this trading week is a bit shorter than usual, we’ve still got some significant economic data releases.  Throughout the week, we’ll receive some important housing data, including existing home sales and new home sales.  We’ll also hear the FOMC minutes from the February meeting on Wednesday, as well as the first Q4 GDP revision on Thursday.  Lastly, on Friday, we’ll hear some important consumer-related data, such as consumer spending, consumer sentiment, and personal income, along with PCE inflation data for January.  

Notable Earnings Releases

This week, we’ve got some key retailers as well as some very large REITs reporting their earnings, among many other huge companies, such as:

02/21 – Walmart (WMT), Home Depot Inc. (HD), Medtronic (MDT), Public Storage (PSA), Palo Alto Networks (PANW), Realty Income Corporation (O)
02/22 – NVIDIA Corporation (NVDA), Rio Tinto (RIO), TJX Companies (TJX), Baidu, Inc. (BIDU), eBay Inc. (EBAY), Lucid Group (LCID), Garmin (GRMN)
02/23 – Alibaba Group (BABA), Intuit Inc. (INTU), American Tower Corporation (AMT), Booking Holdings (BKNG), Moderna, Inc. (MRNA), Monster Beverage Corporation (MNST), Keurig Dr. Pepper (KDP), Audodesk (ADSK), Block, Inc. (SQ)
02/24 – Berkshire Hathaway (BRK.A/BRK.B), Icahn Enterprises (IEP)

This week, we’ll get to hear from some very important retailers, like WMT, HD, and TJX, as well as some very large consumer goods providers, such as MNST and KDP.  These companies will provide very important information regarding the consumer and their spending habits, as well as how they are being affected by inflation.

There are also some very large REITs reporting earnings, such as PSA, PANW, O, AMT, and EXR. These companies will provide some key insight on the real estate market as a whole, as well as how their specific niches within the industry are performing.  

Lastly, we’ll hear from the Oracle of Omaha himself, Warren Buffett, and Berkshire Hathaway.  Hopefully, we’ll get to hear some insight as to why his company divested its newly acquired position in TSM, as this had a massive effect on the pricing of the company.

⚡ Watchlist ⚡

Monitoring the market conditions this week.

⚡ Trade Win from Last Week ⚡

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