Week Ahead on Wall Street

Economic Data

Today investors will look to get more clarity on the ways rising prices are affecting consumers, and how the Fed plans to respond. Consumer inflation expectations for March are due. Federal Reserve Bank of Atlanta President Raphael Bostic is also set to give a speech, as is Charles Evans who is head of the Chicago Fed.

Tomorrow, more inflation data is on the way, with the Consumer Price Index for March scheduled to be published. Last month’s number showed prices rising by 7.9% year-over-year, the fastest rate recorded in 40 years. Core CPI which strips out fuel and food prices is also set for release, as well as the NFIB small business index for March, and last month’s federal budget deficit.

Wednesday, March’s Producer Price Index is due, which tracks the prices domestic producers are receiving for their products. This is also an important inflation gauge, given the fact that manufacturers are raising prices to cover increased input costs. In February, the PPI rose by 10% year-over-year. MBA mortgage applications are also something to watch for, as they’ve been declining amid higher interest rates.

Thursday, jobless claims are due, after last week’s number fell to 166,000, the lowest recorded since 1968. Additionally, retail sales will be posted for March.

Friday, watch for March’s industrial and manufacturing production numbers, as well as this month’s Empire State Manufacturing Index which tracks activity in the New York region.

Earnings

Tomorrow look for Pure Cycle Corporation (PCYO) to post its latest quarterly data. It last shared results in January. The company owns and develops water rights as well as land in the rapidly growing Denver area, where water is scarce.

Wednesday, two titans of the financial world are among the companies scheduled to report earnings. JP Morgan Chase (JPM) will hand in its Q1 2022 report card after beating on profit but missing on revenue during its most recent quarter. Additionally, investment management firm Blackrock (BLK) will share results for its first quarter. It similarly fell short of Wall Street expectations for sales during the fourth quarter of last year, but exceeded earnings estimates.

Thursday, Taiwan Semiconductor (TSM) will report earnings, following last week’s announcement that it will be making graphics processing units for US chipmaker NVIDIA (NVDA). From a macroeconomic standpoint, some economists worry the island nation’s semiconductor industry could be disrupted as a result of ongoing tensions with China.

Also Thursday, UnitedHealth Group (UNH) is scheduled to share its latest data, after the healthcare giant recently agreed to buy LHC Group for $5.4 billion.

The Week Ahead at SoFi

We have lots of events this week, including talks on margin basics, negotiating salaries, funding for home improvements, and financial goal setting for college students, plus our next Your Next Dollar livestream. Save your seat!

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