Earnings season winds down with a very light reporting calendar for the week, highlighted by two megacap software companies.
On the economic front, Wednesday's consumer price index from the Bureau of Labor Statistics will be the main focus. The consensus call is for a 2.9% year-over-year increase. The core CPI, which strips out volatile food and energy prices, is expected to rise 3.2%.
Companies reporting quarterly results this week include Oracle on Monday, Adobe on Wednesday, and Dollar General and ulta beauty on Thursday.
Other economic data to be released during the week include the Job Openings and Labor Turnover Survey report on Tuesday, the producer price index on Thursday, and the University of Michigan Consumer Sentiment Index on Friday.
Monday 3/10
BioNTech, Franco-Nevada, and Oracle announce earnings.
Tuesday 3/11
Casey's General Stores, Dick's Sporting Goods, Ferguson Enterprises, and Viking Holdings report quarterly results.
The National Federation of Independent Business releases its Small Business Optimism Index for February. Consensus estimate is for a 101 reading, about two points less than in January. The index recently hit a six-year high after President Donald Trump's election victory.
The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Economists forecast 7.72 million job openings on the last business day of January, 120,000 more than in December.
Wednesday 3/12
Adobe and Crown Castle release earnings.
The BLS releases the consumer price index for February. The consensus call is for a 2.9% year-over-year increase. The core CPI, which strips out volatile food and energy prices, is expected to rise 3.2%. Both estimates would be one-tenth of a percentage less than the January figures. The annual change in the core CPI has been stuck in a narrow range between 3.2% and 3.3% since last summer.
Thursday 3/13
Dollar General, DocuSign, and Ulta Beauty hold conference calls to discuss quarterly results.
The BLS releases the producer price index for February. Economists forecast a 3.2% year-over-year increase for the PPI and a 3.5% rise for the core PPI. This compares with gains of 3.5% and 3.6%, respectively, in January.
Friday 3/14
The University of Michigan releases its Consumer Sentiment Index for March. Consensus estimate is for a 63.9 reading, slightly less than in February. Plummeting consumer confidence and rising inflation expectations have roiled the stock market over the past month. The most recent reading from the University of Michigan was a 15-month low, while a similar survey in late February from the Conference Board registered the largest monthly decline since August 2021. Consumers' expectations for the year-ahead inflation was 4.3% in February in the Michigan survey, the highest reading since late 2023.
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