Last week, we saw an incredibly volatile week, with a mixed bag of earnings and the introduction of tariffs by President Trump. Although the market was most up this week, with the Dow up 0.44%, the S&P up 0.54%, the Nasdaq up 0.98%, and the Russell down 0.95%, the indices gave up most of their gains for the week on Friday, when Trump announced a 10% tariff on China and 25% tariffs on Canada and Mexico, effective Saturday, February 1st. As if there wasn’t enough volatility in the market with earnings season and all of the economic data releases already, we now have to pay close attention to the actions coming out of the White House, as Trump is moving incredibly quickly in his second term!
As we already mentioned, tariffs were the star of the show last week, despite the FOMC maintaining the Federal Funds rate, GDP coming in slightly lower than anticipated, and PCE meeting expectations! These new tariffs are undoubtedly going to have an effect on countless companies in virtually every sector of the market, which is why so many stocks made huge moves downward on Friday.
It is important to highlight, though, that Q4 GDP did come in a bit lower than anticipated, with Q3 coming in at 3.1% and analysts expecting Q4 to come in at 2.5%. The real number came in at 2.3%, so it will be important to pay attention to where this number goes, as this is quite the downturn!
This week will not just be a big week for earnings releases, but it’ll also be a huge week for economic data releases! This week, we kick things off with consumer confidence on Tuesday, followed by the FOMC interest rate decision on Wednesday. We then have Q1 GDP and pending home sales on Thursday, followed by personal income and spending and PCE on Friday. All of these metrics will be incredibly important to pay attention to, as the market will undoubtedly react in a very volatile way if expectations for any of these metrics are beat/missed.
This week, earnings season rages on, as some of the most influential companies in the world report their earnings, like:
02/03 – Palantir Technologies (PLTR), Mitsubishi Financial Group (MUFG), NXP Semiconductors (NXPI), IDEXX Laboratories (IDXX), Equity Residential (EQR), Tyson Foods (TSN), Clorox (CLX), Super Micro Computer (SMCI)
02/04 – Alphabet (GOOG/GOOGL), Toyota Motor Corp (TM), Merck & Company (MRK), Pepsico (PEP), Advanced Micro Devices (AMD), Amgen (AMGN), Pfizer (PFE), KKR (KKR), UBS (UBS), Spotify Technology (SPOT), Ferrari (RACE), PayPal Holdings (PYPL), BP (BP), Chipotle Mexican Grill (CMG), Mondelez International (MDLZ), Transdigm Group (TDG), Regeneron Pharmaceuticals (REGN)
02/05 – Novo Nordisk (NVO), Alibaba Group (BABA), Walt Disney Company (DIS), QUALCOMM (QCOM), Arm Holdings (ARM), Boston Scientific (BSX), Uber Technologies (UBER), TotalEnergies (TTE), Fiserv (FI), Illinois Tool Works (ITW), McKesson (MCK), O’Reilly Automotive (ORLY), Emerson Electric (EMR), GSK (GSK), Equinor (EQNR), MicroStrategy (MSTR), Ares Management (ARES), MetLife (MET)
02/06 – Amazon.com (AMZN), Eli Lilly and Company (LLY), AstraZeneca (AZN), Linde (LIN), Philip Morris International (PM), Honeywell International (HON), Bristol-Myers Squibb (BMY), ConocoPhillips (COP), Intercontinental Exchange (ICE), Fortinet (FTNT), Thomson Reuters (TRI), Hilton Worldwide Holdings (HLT), ING Group (ING), Cloudflare (NET), Roblox (RBLX), Kenvue (KVUE), Blue Owl Capital (OWL)
Again, all eyes will be on Big Tech this week, as GOOG and AMZN report their earnings. The market will be incredibly interested to hear what these AI giants have to say about DeepSeek and all of the recent developments in the AI world. It’ll also be important to keep an eye on PLTR, as they are seen as one of the leading companies that’s making use of AI. As always, Alex Karp should give some great commentary regarding what we should expect from the AI space in the coming months!
Monitoring the market conditions this week.
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