Fed Speech, Tech Earnings to Jumpstart February

Key manufacturing and services data will be on tap, too

Digital Content Manager
Jan 26, 2023 at 2:07 PM
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February kicks off halfway through next week with plenty of economic indicators on tap. Manufacturing, services, and jobs data will capture investors' attention, but what they'll truly be on the lookout out for is the latest update from the U.S. Federal Reserve.

The earnings docket is also busy, with reports to come from Alphabet (GOOGL), Amazon.com (AMZN), Amgen (AMGN), Apple (AAPL), Caterpillar (CAT), Eli Lilly (LLY), Exxon Mobil (XOM), General Motors (GM), Merck (MRK), McDonald's (MCD), Peloton (PTON), Pfizer (PFE), Qualcomm (QCOM), Snap (SNAP), Spotify (SPOT), Starbucks (SBUX), United Parcel Services (UPS), and Western Digital (WDC).

Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.

There are no relevant economic indicators scheduled for Monday, Jan. 30.

Tuesday, Jan. 31 brings the S&P Case-Shiller and Federal Housing Finance Agency (FHFA) home price indexes, as well as the rental vacancy rate. The Chicago business barometer, consumer confidence index, and employment cost index are also on tap.

The ADP employment report will come out on Wednesday, Feb. 1, in addition to job openings and quits. Wall Street will also be eyeing the S&P manufacturing purchasing managers' index (PMI), the Institute for Supply Management (ISM) manufacturing index, construction spending data, motor vehicle sales, and both the Federal funds rate and projection. The day ends with a news conference from Fed Chairman Jerome Powell.

The usual round of initial and continuing jobless claims is set for Thursday, Feb. 2, as well as productivity and unit labor costs estimates, and factory and core capital goods orders.

Nonfarm payrolls, the unemployment rate, and average hourly earnings are due out on Friday, Feb. 3, alongside the labor-force participation rate. Plus, both the S&P U.S. services PMI and the ISM services index are due out.

 

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