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Business News/ Markets / Stock Markets/  Wall Street week ahead: Investors to review big earnings, economic data
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Wall Street week ahead: Investors to review big earnings, economic data

The big focus will be on inflation data from the US government’s January report on personal consumption and expenditures (PCE), a preferred measure of inflation for the Federal Reserve

On Friday, the S&P 500 gained 1.77 points, or 0.03 per cent, to end at 5,088.8 points. (REUTERS)Premium
On Friday, the S&P 500 gained 1.77 points, or 0.03 per cent, to end at 5,088.8 points. (REUTERS)

Investors on Wall Street in the week ahead will have big earnings including Li Auto, Lowe's, eBay, Domino's Pizza, and Salesforce, and some key economic data to review.

The economic data could further give clarity on how consumers are feeling and whether inflation is still easing.

The big focus will be on inflation data from the US government’s January report on personal consumption and expenditures (PCE), a preferred measure of inflation for the Federal Reserve.

Economic events

The Conference Board will release its report on consumer confidence for the current month on February 27.

On February 28, fourth quarter GDP (gross domestic product) data (first revision) will be released.

February 29 will see the release of PCE index and March 1 will see the S&P US manufacturing PMI data (final) for this month.

Earnings

Following companies are due to report quarterly earnings in the week ahead—

Workday, Li Auto, Domino's Pizza, Zoom Video, Lowe's, American Tower, AutoZone, eBay, Salesforce, Royal Bank of Canada, Baidu, HP, Snowflake, Anheuser-Busch InBev, Toronto-Dominion Bank, Dell Technologies, Autodesk, Plug Power, and fuboTV.

US markets last week

On Friday, the S&P 500 gained 1.77 points, or 0.03 per cent, to end at 5,088.8 points, while the Nasdaq Composite lost 44.80 points, or 0.28 per cent, to 15,996.82. The Dow Jones Industrial Average rose 62.42 points, or 0.16 per cent, to 39,131.53.

For the week, the S&P 500 climbed 1.7 per cent , the Dow rose 1.3 per cent and the Nasdaq finished 1.4 per cent higher.

The US dollar fell to 150.47 yen from 150.56 Japanese yen. The euro rose to $1.0824 from $1.0823.

The yield on the 10-year Treasury fell to 4.26 per cent on Friday from its previous close at 4.33 per cent.

US benchmark crude oil for April delivery fell $2.12 to $76.49 per barrel on Friday. Brent crude for April delivery fell $2.05 to $81.62 per barrel.

Gold for April delivery rose $18.70 to $2,049.40 per ounce. Silver for March delivery rose 20 cents to $22.98 per ounce.

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Published: 25 Feb 2024, 10:29 PM IST
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