Last week saw a repeat of the previous trading week’s price action, with a big gap lower on Monday followed by recovery through the week and then selling pressure on Friday. The similarity in price action was unusual.
Major tech earnings from Amazon (AMZN), Palantir (PLTR), Advanced Micro Devices (AMD) and others were announced. The jobs report also showed some weakness in the labor market, with the S&P 500 finishing -0.17% for the week.
This week’s key events include:
– CPI Report: Wednesday at 8:30 am, focusing on core CPI data.
– Fed Chair Jerome Powell’s testimony to Congress, appearing before the House Financial Services Committee and Senate Banking Committee.
– PPI Data: Thursday at 8:30 am, offering a perspective on inflation pressures.
– Retail Sales: Friday at 8:30 am, providing insights into consumer spending patterns.
Notable earnings releases include McDonald’s (MCD) on Monday, Shopify (SHOP), Coca-Cola (KO), and Coinbase (COIN) later in the week.
Source: https://www.barchart.com/story/news/30843213/cpi-powell-testimony-and-other-can-t-miss-items-this-week