Wave of Earnings Reports Continues as Consumer Price Index Data is Released
The busy wave of earnings reports is set to continue this week, with over 60 S&P 500 companies scheduled to release their quarterly results. Among the notable companies on the schedule are Coca-Cola, Cisco Systems, Applied Materials, and Deere. This earnings season is now more than halfway complete, with approximately 60% of S&P 500 companies having already announced their fourth-quarter results.
The economic highlight of the week will be Tuesday’s release of the consumer price index (CPI) for January. Economists are anticipating a 2.9% year-over-year rise in the CPI, which is half a percentage point less than the December figure.
On Monday, Arista Networks, Cadence Design Systems, Principal Financial Group, and Waste Management will be unveiling their quarterly results. Tuesday’s roster includes Airbnb, American International Group, Biogen, Coca-Cola, DaVita, Ecolab, EQT, Hasbro, Howmet Aerospace, Marriott International, MGM Resorts International, Molson Coors Beverage, Moody’s, Shopify, Waste Connections, Welltower, and Zoetis. Alongside the earnings reports, the Bureau of Labor Statistics will release the CPI data for January, with consensus estimates predicting a 2.9% year-over-year increase.
Wednesday will see Albemarle, CF Industries, Cisco Systems, CME Group, Energy Transfer, Equinix, Generac Holdings, Global Payments, Kraft Heinz, Martin Marietta Materials, Occidental Petroleum, Sony Group, Tyler Technologies, and Williams Cos. announcing their quarterly results. On Thursday, Applied Materials, CBRE Group, Consolidated Edison, Coinbase Global, Deere, Digital Realty Trust, DoorDash, DraftKings, EPAM Systems, Genuine Parts, Ingersoll Rand, Southern Co., and Stellantis will be releasing their earnings reports. Additionally, the Census Bureau will report retail sales data for January, while the National Association of Home Builders will release the Housing Market Index for February.
Finally, on Friday, NatWest Group, PPL, and Vulcan Materials will hold conference calls to discuss their quarterly results. The University of Michigan will also release its Consumer Sentiment Survey for February, with expectations for a reading of 79. Furthermore, the Bureau of Labor Statistics will release the producer price index (PPI) for January, with both the PPI and core PPI expected to increase by 0.1% month over month.
As the earnings season progresses, the market will be closely watching the results and economic data for any potential impact on investor sentiment and market trends.
Analyst comment
Positive news: The wave of earnings reports continues, providing investors with valuable information. The release of CPI data is expected to show a slight decrease from the previous month.
As an analyst, I anticipate that the market will closely monitor the earnings reports and economic data to assess their impact on investor sentiment and market trends.
