U.S. Stock and Bond Markets Closed for Presidents Day
Monday, February 19th – In observance of Presidents Day, both the U.S. stock and bond markets will be closed. Investors will have to wait until Tuesday for trading to resume on Wall Street.
Earnings Reports Highlights the Week
Once the markets reopen, it will be a busy week as companies release their earnings reports. Nvidia will be in the spotlight on Wednesday, February 21st, as they announce their quarterly results. Other notable companies reporting on Tuesday include Diamondback Energy, Home Depot, Medtronic, Palo Alto Networks, and Walmart. On Wednesday, Analog Devices, Etsy, Rivian Automotive, and Vertiv Holdings will also release their earnings.
Federal Reserve Observers Await Monetary-Policy Meeting Minutes
Attention will also be focused on the release of minutes from the Federal Open Market Committee’s late-January meeting. Although interest rates were left unchanged at the meeting, there may have been discussions about potential rate cuts later in 2024. This release on Wednesday will be closely monitored by Federal Reserve observers.
Economic Data to Watch
Several economic data releases are also scheduled for this week. The Conference Board will release its Leading Economic Index for January on Tuesday. Economists expect a 0.3% month-over-month decline, following a 0.1% decrease in December. On Thursday, S&P Global will release both its Manufacturing and Services Purchasing Managers’ Indexes for February. In addition, the National Association of Realtors will report existing-home sales for January.
Conclusion
With the closure of the stock and bond markets on Monday, investors will have to wait until Tuesday to resume trading. The week will then be filled with earnings reports from major companies, as well as the release of minutes from the Federal Open Market Committee’s late-January meeting. Economic data, including the Leading Economic Index and existing-home sales, will also provide insights into the state of the economy.
Analyst comment
Neutral news: U.S. stock and bond markets closed for Presidents Day. Busy week of earnings reports ahead, including Nvidia, Diamondback Energy, Home Depot, Medtronic, Palo Alto Networks, and Walmart. Federal Reserve minutes and economic data will be closely watched.
