The Week Ahead on Wall Street

Economic Data

Today, the Consumer Confidence Index for February is due. This aims to measure how comfortable consumers are regarding their financial outlook. The number declined last month. January’s index came in at 113.8, down from 115.2 in December. Housing market data is also on the way, in the form of December’s S&P Case-Shiller home price index, and December’s FHFA home price index. Information provider IHS Markit will also release its manufacturing PMI for February, and its services PMI for February.

Tomorrow no economic data is scheduled to be released.

Thursday, be on the lookout for January’s new home sales. The number increased in December to 403,000 — up by 6,000 new homes from November. That represented a nine-month high. Initial jobless claims are also due. Last week’s number came in at 248,000 which was higher than both the previous week, and the 219,000 claims that were expected. The Department of Commerce will also release its revised Q4 GDP, after the initial figure showed a 6.9% increase at an annualized pace.

Friday, new inflation data is set for release. The January PCE or Personal Consumption Expenditures index is due. This is the Fed’s preferred inflation gauge. It rose by 5.8% year-over-year in December, the highest such rate since 1982. November’s index checked in at a 5.7% increase. Core inflation will also be reported for January, which strips out food and energy costs. December’s core inflation rose by 0.5% from November. Also Friday be on the lookout for January’s nominal personal income, nominal consumer spending, real consumer spending, and real disposable income. Finally, the University of Michigan’s final revision is due for February’s consumer sentiment.

Earnings

Today Home Depot (HD) reports Q4 earnings. During Q3 2021 the home improvement company beat analyst expectations on the top and bottom lines. Same store sales came in at 6.1%, well above the estimated 2.2% increase. Customers also spent 12.9% more per trip on average.

Tomorrow, Booking Holdings (BKNG) will hand in its report card. During its most recent earnings call the travel technology company said total room nights booked in Q3 2021 increased for the third straight quarter. Revenue increased to $4.7 billion which fell just short of Q3 2019 when sales came in at $5 billion. Both revenue and earnings per share topped analyst expectations. The company also just ran its first-ever Super Bowl ad.

Thursday, Anheuser Busch Inbev (BUD) will post its earnings report for the quarter ending December 2021. The company’s Q3 revenue surprised analysts amid lockdowns. Sales were up 8%. Analysts note the world’s largest beer company continues to deal with higher input costs.

Friday, Foot Locker (FL) rounds out the week in earnings when it reports results from the fourth quarter of 2021. Analysts are expecting $2.35 billion in revenue. That would represent a 7.3% increase from the same quarter in 2020. Foot Locker’s most recent earnings report beat estimates on both the top and bottom lines.

The Week Ahead at SoFi

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