Monday's Market Minute: Goodbye January…Hello February

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Looks like another busy week ahead, let’s take a market minute to see what you should stay dialed in on.

First, a look back at what was a volatile start to the new year, with the S&P 500 headed into the end of the month down around 7%, the Nasdaq down around 11% to begin the year, and crude having the best month it has seen in decades. Interest rate fears and geopolitical unease have markets a bit stirred up into the end of the last trading day of the month. But there’s no rest for the weary, and many expect February to be busy as well, so plan accordingly and keep your hands inside the vehicle until we come to a full stop. Oh yes, almost forgot…enjoy your ride!! 

This week, in terms of economic data, keep an eye on Fed speakers Mary Daly and Esther George today, especially after Bostic recently said if a 50-basis-point hike was necessary, he’d support one. The President of the Federal Reserve Bank of Atlanta said he’s comfortable with moving in successive meetings if need be. In addition to Fed speakers, we have some manufacturing data: Construction Spending, JOLTS, Motor Vehicle Sales, Factory Orders, and a slew of jobs reports all culminating with the non-farm payrolls Friday due out at 8:30AM ET. Last week, Fed Chair Jerome Powell was clear that the Fed is focused on the economic data. Therefore, as traders and investors, we need to be as well. 

In addition to economic data this week, companies set to report quarterly results include Exxon, UPS, Pulte, Alphabet, PayPal, Qualcomm, Meta, Amazon, Ford, Snap, Pinterest…wow, lots of closely-watched names that could move markets.

Lastly, while the Fed is behind us, the focus on central bank activity isn’t. This week, we’ll hear from the ECB and the Bank of England. While many expect the ECB to leave rates unchanged, the focus will be on the BOE and the possibility they will provide the first back-to-back rate hike in almost 20 years – since 2004. And we have an OPEC meeting; expectations are that they will stick to the planned March output target. 

But lots to stay on top of, and lots that could move markets – have a good one!

Image sourced from Unsplash

This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice.