Week Ahead on Wall Street

Economic Data

Today the Federal Reserve reports on consumer credit for January. This includes things like credit cards and personal loans used to purchase goods and services. Consumer credit grew overall in December, but at a slower rate than what was observed during the previous month. Personal debt grew by 5.4% in December, but the number came in at 10.7% for November.

Tomorrow, the National Federation of Independent Business releases its small-business index for February. This is a general snapshot of how things are going within the small-business sector, which accounts for around 50% of all private jobs in the US. The NFIB small business index looks at 10 seasonally adjusted factors. It decreased slightly in January by 1.8 points to 97.1, with many small businesses continuing to face struggles dealing with inflation. January’s foreign trade deficit and the revised number for January’s wholesale inventories will also be published.

Job openings for January are due on Wednesday. The US Labor Department issues this Job Openings and Labor Turnover Survey (JOLTS) every month and economists consider it an indication of labor demand. Job openings increased in December to 10.9 million, nearly matching last July’s all-time high of 11.098 million. Meanwhile, job resignations fell by 161,000 to 4.3 million, which is still considered high amid what some have called “The Great Resignation.”

Thursday, the market will be paying close attention to the latest inflation data. The consumer price index and core consumer price index are due for February. The core CPI strips out energy and food when surveying prices, while the CPI is known as the “all items” index. In January, the CPI rose 7.5% for the preceding 12 months — the fastest rate of price increase since February 1982. Core CPI rose 6% year-over-year, the largest such change since August 1982. More job market data is also set for release, as new and pre-existing unemployment claims will be published. It’s a busy day for economic data as the seasonally adjusted real domestic nonfinancial debt for the fourth quarter, seasonally adjusted real household wealth for the fourth quarter, and the Federal budget deficit for February are all set for release as well.

Friday, the University of Michigan will report March’s preliminary consumer sentiment index, as well as preliminary five-year inflation expectations for March.

Earnings

Today, Canadian oil and natural gas company Vermilion Energy (VET) will share its latest earnings report. This comes as global energy prices are rising in response to Russia’s invasion of Ukraine, and the possibility of Russian oil and gas deliveries being disrupted grows. The Calgary-based company previously announced plans to reinstate its dividend this April.

Tomorrow, Dick’s Sporting Goods (DKS) will post its most recent quarterly results. The retailer’s previous four earnings reports have beat analyst estimates on the top and bottom lines. Dick’s is trying to keep pace with the onset of online shopping, and from August to October 2021 reported ecommerce sales represented around 19% of sales. That represents a 13% increase from 2019.

Wednesday, Campbell Soup Company (CPB) reports earnings. The food company is among several in the industry that saw profit margins slide last year amid supply-chain constraints. Specifically, costs are higher for vegetable oils, nuts, plastics, and other key supplies, as well as labor and transportation.

Thursday, software company Oracle (ORCL) hands in its most recent report card. Oracle just announced last week it has suspended all operations in the Russian Federation as a result of the invasion of Ukraine. In December, Oracle announced plans to acquire health IT company Cerner (CERN) — which is now being sued over claims that other potential bidders were shut out.

Friday, WeWork (WE) shares quarterly results. Its most recent earnings report marked the company’s first since going public in October 2021. WeWork’s third-quarter total revenue came in at $661 million, representing an 11% increase from the second quarter of last year.

The Week Ahead at SoFi

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