Wall Street week ahead: Stock market investors to keenly watch for Feb inflation data

Stock market investors on Wall Street in the week ahead will keenly watch for inflation data among the other economic reports. 

The upcoming economic reports can provide investors clues on the US Federal Reserve’s rate cut plans later in the year.

Last week, investors’ hopes were bolstered about interest rates cut after Federal Reserve chair Jerome Powell’s comments and US jobs report.

Powell had said that the US central bank is “not far” from getting enough confidence that inflation is heading to the Fed’s 2 per cent goal to be able to start interest-rate cuts.

Economic events

The consumer price index (CPI) report for February will be released on March 12.

March 14 will see the release of reports on the US retail sales for February and the producer price index (PPI) for February.

A report on industrial production for February is slated to be released on March 15. 

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Earnings

Following companies are due to report quarterly earnings in the week ahead— Oracle, Casey's General Stores, Asana, On Holding, Kohl's, International Game Technology, Dollar Tree, Petco Health and Wellness, Williams-Sonoma, Lennar, DICK'S Sporting Goods, Dollar General, Adobe, Blink Charging, Ulta Beauty, and Jabil.

US markets last week

On Friday, the Dow Jones Industrial Average fell 68.66 points, or 0.18 per cent, to close at 38,722.69, the S&P 500 lost 33.67 points, or 0.65 per cent, to close at 5,123.69 and the Nasdaq Composite lost 188.26 points, or 1.16 per cent, to close at 16,085.11.

The yield on the two-year Treasury dipped to 4.48 per cent from 4.51 per cent late on Thursday.

The US dollar fell to 147.06 yen from 148.02 Japanese yen. The euro fell to $1.0942 from $1.0947.

The US crude oil benchmark for April delivery fell 92 cents to $78.01 per barrel on Friday. Brent crude for May delivery fell 88 cents to $82.08 per barrel.

Gold for April delivery rose $20.30 to $2,185.50 per ounce. Silver for May delivery fell 3 cents to $24.55 per ounce.

In overseas stock markets, indices were mixed in Europe and rose modestly across much of Asia.