China Trade Deadline, GDP Data on Tap

Plus, Fed Chair Jerome Powell will speak to Congress

Managing Editor
Feb 21, 2019 at 1:30 PM
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The last week of February will be jam-packed with virtually everything Wall Street has to offer. There's important economic data to digest, like the latest fourth-quarter gross domestic product (GDP) estimate, and several Fed speakers will take the mic, including Fed Chair Jerome Powell, who will give his semi-annual testimony before the House Finance Committee. And that's not to mention the latest batch of corporate earnings, which includes retail giants Home Depot (HD) and Macy's (M), as well as tech stalwart Square (SQ).

Investors will also be closely monitoring trade talk developments between the U.S. and China ahead of the looming March 1 deadline, after which increased tariffs on Chinese imports are set to take effect. Officials from both sides have been meeting to negotiate a trade deal, though President Donald Trump has hinted that the March 1 deadline isn't set in stone.

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates. 

On Monday, Feb. 25, the week kicks off with the Chicago Fed National Activity Index and the Dallas Fed manufacturing survey. There will also be earnings reports from Etsy (ETSY), Rent-a-Center (RCII), Shake Shack (SHAK), and Tenet Healthcare (THC). 

Tuesday, Feb. 26, will feature housing starts data, the S&P Corelogic Case-Shiller home price index, and consumer confidence data. Powell will begin his testimony to Congress in the morning. As far as earnings, Home Depot (HD), Acadia Pharmaceuticals (ACAD), AutoZone (AZO), Clovis Oncology (CLVS), Cracker Barrel (CBRL), GW Pharma (GWPH), Lumber Liquidators (LL), Macy's (M), Mallinckrodt plc (MNK), Mylan NV (MYL), Papa John's (PZZA), Tandem Diabetes (TNDM), and Toll Brothers (TOL) are all slated.

International trade data is due on Wednesday, Feb. 27, as well as data on mortgage applications, factory orders, retail and wholesale inventories, weekly crude inventories, and pending home sales. Powell will wrap up his Washington, D.C., testimony in the morning. Quarterly earnings from Amarin (AMRN), Best Buy (BBY), Box (BOX), Campbell Soup (CPB), Chesapeake Energy (CHK), Dean Foods (DF), Fitbit (FIT), L Brands (LB), Lowe's (LOW), Monster Beverage (MNST), Perrigo (PRGO), Square (SQ), TJX Companies (TJX), and Wingstop (WING) are also due.

Thursday, Feb. 28, is highlighted by fourth-quarter gross domestic product (GDP) data. There will also be weekly jobless claims, the Chicago purchasing managers manufacturing index (PMI), and the Fed's balance sheet. Fed Vice Chair Richard Clarida will speak in the morning, followed by remarks from Atlanta Fed President Raphael Bostic and Philadelphia Fed President Patrick Harker later in the day.

Plus, 3D Systems (DDD), Akorn (AKRX), Anheuser Busch Inbev NV (BUD), Autodesk (ADSK), Crocs (CROX), J C Penney (JCP), (JD), Gap (GPS), Keurig Dr Pepper (KDP), Marriott International (MAR), Nektar Therapeutics (NKTR), Nordstrom (JWN), Nutanix (NTNX), Opko Health (OPK), SeaWorld (SEAS), VMware (VMW), Workday (WDAY), and Zscaler (ZS) all step into the earnings confessional.

The week ends Friday, March 1 -- the U.S.-China trade deadline, as of this writing -- with data on personal income and outlays and the Fed-watched PCE price index, Markit's services PMI, the Institute for Supply Management (ISM) manufacturing index, consumer sentiment data, and the Baker-Hughes rig count. Bostic will speak once more in the afternoon. Foot Locker (FL) and Intrexon (XON) report earnings.


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