Monday's Market Minute: Fed In Focus This Week, But Plenty Of Earnings & Data As Well

While the primary focus this week will be on the Federal Reserve’s policy announcement on Wednesday, it never hurts to take a market minute to look at a few of the other focal points for investors and traders.

We begin with earnings – and how! – with more than 150 S&P 500 companies reporting this week. Keep an eye on McDonald’s MCD, Pinterest PINS, Pfizer PFE, Wayfair W, Roku ROKU, Qualcomm QCOM, Airbnb ABNB, Apple AAPL, and Palantir PLTR at the top of the list of companies providing further insight as to how consumers and businesses are faring in this higher-rate environment.

In terms of ecodata, it's not just the Fed this week; we also have the Bank of Japan on Tuesday and the Bank of England on Thursday to keep an eye on. Most notable is the Bank of Japan, as the Japanese yen continues to hold near multi-year lows and the question remains as to whether the BOJ will do something to slow the recent slide.

Looking beyond the policy decisions from these major central banks, we have a handful of jobs and housing data due out. In terms of jobs figures, the primary focus will be on the Employment Situation report on Friday. Analysts are looking for just under 185K jobs to be added for Nonfarm Payrolls month-over-month, with a slight uptick in the wages component to 0.3% from 0.2% last month. Traders also will be watching the Treasury Refunding event on Wednesday, which could move markets.

Lastly, don't lose sight of crude oil and interest rates. The WTI oil contract is starting the week off around 1% lower near $85 mark, meanwhile the Brent oil contract is set to begin the week back below $90. Rates are holding up near multi-decade highs, with the 10-Year just shy of 4.9% and the longer-dated 30-Year closed at 5% on Friday.

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