Wall Street investors will face a packed week ahead with several economic data releases that will shed light on the US economy’s performance. Key releases include jobs data for January, the University of Michigan’s preliminary consumer sentiment report, and manufacturing data for January.
Additionally, the markets are likely to react to Donald Trump’s ongoing trade war with Canada, Mexico, and China, as well as retaliatory measures from these countries. The impact of this trade spat on global markets is still uncertain.
The earnings season will continue to be a major focus, with several big companies including Alphabet, Walt Disney, Qualcomm, Tyson Foods, Merck, and PepsiCo set to report their quarterly results.
Several key economic data releases are scheduled for the week ahead:
– Monday (February 3): S&P final US manufacturing PMI for January
– Tuesday (February 4): Job openings for December and factory orders for December
– Wednesday (February 5): ADP employment for January, US trade deficit for December, and S&P final US services PMI for January
– Thursday (February 6): Initial jobless claims for the week ended February 1 and US productivity Q4
– Friday (February 7): US employment, unemployment for January, consumer sentiment (prelim) for January, and consumer credit for December
Several companies are set to release their fourth-quarter earnings this week, including Palantir Technologies, NXP Semiconductors, IDEXX Laboratories, Tyson Foods, Clorox, Alphabet, Merck, PepsiCo, Advanced Micro Devices, Amgen, Novo Nordisk, Walt Disney, Qualcomm, Arm Holdings, Uber Technologies, Eli Lilly, Linde, Honeywell International, ConocoPhillips, Neurocrine Biosciences, Bristol-Myers Squibb, Fortive, Cboe Global Markets, Banco Bradesco, and Kimco Realty.
The markets ended lower on Friday due to President Trump’s tariffs threat, with the S&P 500 losing 31.10 points, or 0.51 per cent, while the Nasdaq Composite fell 58.47 points, or 0.30 per cent. The Dow Jones Industrial Average also declined, and the yield on the 10-year Treasury rose to 4.54 per cent from 4.52 per cent.
Source: https://www.livemint.com/market/stock-market-news/wall-street-week-ahead-spotlight-on-trump-trade-war-jobs-manufacturing-data-11738515622366.html