What will drive the markets this week?
On Friday, the S&P 500 and Nasdaq saw a downturn after hitting record highs earlier in the session. Chip stocks, previously soaring, reversed course, compounded by a mixed labor market report revealing more new jobs than expected alongside a rising unemployment rate. The S&P 500 ended the week with a 0.26% loss, the Nasdaq fell by 1.17%, and the Dow dropped 0.93%.
Europe’s primary stock indices held steady on Friday, but experienced robust gains throughout the week, buoyed by record highs in German and French shares. Investor attention also turned to the U.S. jobs report for insights into global monetary policy outlooks.
Asia-Pacific markets rallied following remarks from U.S. Federal Reserve Chair Jerome Powell, hinting that interest rate cuts might be imminent if inflation signals support policy easing.
Investors and Federal Reserve officials, observing a quiet period ahead of the Fed’s upcoming meeting, are closely monitoring this week’s Consumer Price Index (CPI) inflation reading, as it takes precedence amidst a limited number of economic releases. Additionally, attention is on retail sales and the federal budget for further insights.
Noteworthy earnings reports are expected this week, including financial updates from retailers such as Dollar Tree Inc. (DLTR), Dollar General Corp. (DG), and Kohl’s Corp. (KSS). Real estate and lending firms are also poised to disclose their financial results. Of particular interest is Adobe Inc.’s earnings, as they will illuminate whether the software provider can maintain its success in leveraging artificial intelligence (AI) trends.
Events expected to move the markets this week
Monday, March 11
- Oracle Corp. (ORCL) reports earnings
Tuesday, March 12
- NFIB small business optimism (February)
- Consumer Price Index (February)
- On Holding AG (ONON), Kohl’s (KSS), Manchester United PLC (MANU), and LoanDepot Inc. (LDI) report earnings
Wednesday, March 13
- Dollar Tree (DLTR), Lennar Corp. (LEN), and Williams-Sonoma Inc. (WSM) report earnings
Thursday, March 14
- U.S. retail sales (February)
- Producer Price Index (February)
- Business inventories (January)
- Adobe (ADBE), Dollar General (DG), Ulta Beauty Inc. (ULTA), and Dick’s Sporting Goods Inc. (DKS) report earnings
Friday, March 15
- Empire State manufacturing survey (March)
- Import price index (February)
- Industrial production (February)
- Consumer sentiment (March)
- Capacity utilization (February)
- Jabil Inc. (JBL) reports earnings