With Wall Street worried about the specter of stagflation following February's surprise drop in nonfarm payrolls and the spike in oil prices, investors will get a double-dose of data on price growth.
The Bureau of Labor Statistics will release the consumer price index for February on Wednesday. On Friday, the Bureau of Economic Analysis will release the personal consumption expenditures price index for January, which was delayed by the partial government shutdown.
Other economic data include the National Federation of Independent Business' Small Business Optimism Index for February, to be released on Tuesday. Friday will bring the BLS' Job Openings and Labor Turnover Survey for January and the University of Michigan's Consumer Sentiment Index for March.
The earnings tap has slowed to a trickle, but Oracle, Hewlett Packard Enterprise, Adobe, Dollar General, and Lennar are among the key firms that will report results.
Monday, 3/9
Hewlett Packard Enterprise, Casey's General Stores, and Vail Resorts announce earnings.
Tuesday, 3/10
Oracle and BioNTech report quarterly results.
The National Federation of Independent Business releases its Small Business Optimism Index for February. The index recently hit a 99.3 reading in January.
Wednesday, 3/11
Campbell's and UiPath hold conference calls to discuss results.
The Bureau of Labor Statistics releases the consumer price index for February. The consensus call is for a 2.5% year-over-year increase. The core CPI, which strips out volatile food and energy prices, is expected to rise 1.4%. Both indexes are expected to rise at 0.3% from January.
Thursday, 3/12
Adobe, Dollar General, Ulta Beauty, Lennar, Dick's Sporting Goods, and Li Auto release quarterly results.
Friday, 3/13
The Bureau of Economic Analysis releases the personal consumption expenditures price index for January. Economists forecast a 2.9% year-over-year increase, matching the December figure. The core PCE price index, which excludes volatile food and energy prices, is expected to hold steady at 3%. The BEA will also release its second estimate of fourth-quarter gross domestic product growth.
The BLS releases the Job Openings and Labor Turnover Survey for January. Economists forecast 6.68 million job openings on the last business day of January, 130,000 more than in December.
The University of Michigan releases its Consumer Sentiment Index for March. Consensus estimate is for a 56.8 reading, slightly higher than in February. The most recent survey featured plunging buying conditions for durables, as well as drops in expectations for personal finances and the short-term economic outlook.
