Monday's Market Minute: A Holiday-Shortened But Busy Week Ahead

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Investors and traders are gearing up for what looks like another busy week. Headed into some closely-watched data, sentiment appears to be waning, with rates here in the U.S. at a 3-year high, the war in Ukraine ongoing, and elevated commodity prices. The S&P 500, while able to take out the February highs in March, has seen limited follow through so far in April.

Let’s take a minute to look at what to keep an eye on this week. First, in terms of economic data, we have: CPI, PPI, NFIB Small Biz Optimism Index, Retail Sales, Consumer Sentiment, a handful of Fed speakers, and a couple of Treasury auctions to stay dialed in on, all of which could move markets. I think the most closely-watched will be the inflation figures, with inflation at 40-year highs as the focus remains squarely on the Fed and the expectations we’ll see a 50bps hike in May.

As far as companies reporting quarterly results, we officially kick off another round of earnings with the banks this week. We have JPMorgan Chase, PNC, Citi, Wells Fargo, and Goldman Sachs getting things started. Also watch out for CarMax, Delta, Bed Bath and Beyond, Fastenal, and Rite Aid. 

Lastly, don’t lose sight of the role commodities at elevated levels has on the inflation narrative, and how inflation is what’s really been weighing on the market since the beginning of the year. And while crude prices have come off highs from earlier this year up around $130, others, like natural gas, grains, and many of the metals markets, are still holding near or on highs for the year. Commodities at elevated levels feed into, and are at the same time at the root, of the inflation concerns investors have been expressing and the Fed has been forced to navigate.

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