Monday's Market Minute: Inflation & Earnings In Focus This Week

As the dust settles from Friday's Jobs Report, the focus is going to shift to inflation, data, and earnings. Let's begin with how most of the attention will be on the inflation data: Wednesday, we‘ll get a look at inflation from the producer side of the equation with the Producer Price Index, and further insight as to the consumer side with Consumer Price Index on Thursday. In addition to the inflation figures, we’ll learn more about recent consumer spending habits with the NFIB Small Business Optimism Index on Tuesday, as well as Fed minutes on Wednesday. Lastly, keep an eye on the weekly Jobless Claims report on Thursday, which could slip below 200K for the first time since the end of March after the strong release last week.

Also, look out for speakers from the Federal Reserve this week. This morning we’ll hear from Dallas Fed President Lorie Logan, with Atlanta’s Raphael Bostic, Minneapolis’ Neel Kashkari, San Francisco’s Mary Daly speaking tomorrow, and finally Philadelphia’s Patrick Harker will close out things out Friday.

In terms of companies reporting quarterly results this week, keep an eye on BlackRock BLK, Citigroup C, JPMorgan Chase JPM, PNC Financial PNC, Wells Fargo WFC, PepsiCo PEP, Delta Air Lines DAL, Domino’s Pizza DPZ, Walgreens Boots Alliance WBA, and UnitedHealth Group UNH as we kick off another round of earnings.

As far as markets, stock index futures remain relatively resilient with the move up in yields last week, which sent the 30-year yield to above 5% and the 10-year yield to 4.88%. S&P 500 futures look to begin the week around 4,300 and the tech-heavy Nasdaq-100 futures are near 15,000. Keep an eye on crude oil as well. With the news of the conflict between Israel and Hamas over the weekend, increased volatility is expected. The WTI contract has fallen from $95 a barrel during the last couple weeks and now is back to around $86 to begin the week.

TD Ameritrade® commentary for educational purposes only. Member SIPC.

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