Next week also brings key manufacturing and services data
Markets will be closed on Monday to observe Presidents' Day, but the remainder of the holiday-shortened week will be busy, featuring previously delayed economic reports, the Federal Reserve's meeting minutes for January, the personal consumption expenditures (PCE) index, as well as manufacturing and services purchasing managers' index (PMI) readings.
There will be plenty of action in the earnings confessional, too, with reports coming from Carvana (CVNA), Caesars Entertainment (CZR), Cinemark (CNK), DoorDash (DASH), Dropbox (DBX), Etsy (ETSY), Kinross Gold (KGC), Lemonade (LMND), Live Nation Entertainment (LYV), Molson Coors Brewing (TAP), Newmont (NEM), Palo Alto Networks (PANW), Walmart (WMT), and Wayfair (W).
Below is the schedule of key market events for the week ahead. All economic dates are tentative and subject to change.
The market is closed on Monday, Feb. 16 to observe Presidents' Day.
The Empire state manufacturing survey is due out on Tuesday, Feb. 17.
Delayed housing starts and building permits for November are slated for release on Wednesday, Feb. 18, in addition to December building permits, durable goods orders, advanced U.S. trade balance in goods, and advanced retail and wholesale inventories. The Federal Reserve Open Market Committee (FOMC) will release its meeting minutes for January as well.
Thursday, Feb. 12, brings the usual batch of weekly jobless claims, as well as U.S. trade deficit update, the Philadelphia Fed manufacturing survey, and pending home sales. Plus, Minneapolis Fed President Neel Kashkari will deliver remarks.
Personal income, personal spending, and a gross domestic product (GDP) update are on tap Friday, Feb. 13, with delayed new home sales reports for both December and November also set to come out. All eyes will be on the PCE index and core PCE for December, as well as S&P flash the manufacturing and services PMIs for February and consumer sentiment data.