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A high-stakes inflation report and more fourth-quarter results will be this week’s highlights. About 60 S&P 500 companies are scheduled to report.
Airbnb
,
Coca-Cola
,
and
Marriott International
will present to shareholders on Tuesday, followed by
Biogen
,
Cisco Systems
,
Kraft Heinz
,
and
Shopify
on Wednesday.
Applied Materials
,
DoorDash
,
Hasbro
,
and
Paramount Global
will report on Thursday, then
Deere
closes the week on Friday.
The key event on the economic-data calendar will be Tuesday’s consumer price index for January from the Bureau of Labor Statistics. The consensus forecast is that the CPI increased 0.5% in the month and 6.2% year over year. The core CPI, which excludes food and energy components, is seen rising 0.3% in January and 5.4% from a year ago.
The BLS will also report the producer price index for January on Thursday. Other releases this week include the National Federation of Independent Business’ Small Business Optimism Index for January on Tuesday, the Census Bureau’s retail sales for January on Wednesday, and the Conference Board’s Leading Economic Index for January on Friday.
Monday 2/13
Arista Networks
,
Cadence Design Systems
,
and SolarEdge Technologies report quarterly results.
Tuesday 2/14
Airbnb, Coca-Cola,
Devon Energy
,
Ecolab
,
Exelon
,
GlobalFoundries
,
Marriott International, and
Zoetis
announce earnings.
The National Federation of Independent Business releases the Small Business Optimism Index for January. Consensus estimate is for a 90 reading, roughly even with December’s. The index has had 12 consecutive monthly readings below the 49-year average of 98, as inflation remains top of mind for small-business owners.
The Bureau of Labor Statistics releases the consumer price index for January. Economists forecast that the CPI will increase 6.2%, year over year, three-tenths of a percentage point less than in December. The core CPI, which excludes volatile food and energy prices, is seen coming in at 5.4%, down from 5.7%.
Wednesday 2/15
Albemarle,
American International Group
,
Analog Devices
,
Barrick Gold
,
Biogen, Cisco Systems, Energy Transfer, Equinix,
Fidelity National Information Services
,
Kraft Heinz, Martin Marietta Materials, Shopify, and
Synopsys
announce quarterly results.
The National Association of Home Builders releases its Housing Market Index for February. Expectations are for a 35 reading, even with January’s. The index is above its recent trough from December, ending a streak of 12 consecutive monthly declines, but home-builder sentiment remains dour.
The Census Bureau reports on retail sales for January. The consensus expectation is that retail spending increased 1.4%, month over month. Excluding autos, spending is seen up 0.7%. Both figures decreased by 1.1% in December.
Thursday 2/16
The Bureau of Labor Statistics releases the producer price index for January. The consensus call is for the PPI to increase 5.4%, year over year, and the core PPI to rise 4.9%. This compares with gains of 6.2% and 5.5%, respectively, in December.
Applied Materials,
Constellation Energy
,
Digital Realty Trust
,
DoorDash, Hasbro, Laboratory Corp of America Holdings, Paramount Global, and
Southern
Co.
hold conference calls to discuss earnings.
The Census Bureau reports residential construction statistics for January. Expectations are for a seasonally adjusted annual rate of 1.37 million housing starts, slightly lower than the December figure.
Friday 2/17
Deere reports first-quarter fiscal-2023 results.
The Conference Board releases its Leading Economic Index for January. Economists forecast a 0.3% month-over-month decline. The index has fallen for nine straight months. The trajectory of the LEI signals a recession in the next 12 months, according to the Conference Board.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
