A bevy of retail and technology earnings reports, the Federal Reserve's preferred inflation measure, and changes to the Dow Jones Industrial Average's membership will be this week's highlights.
Before the start of trading on Monday, Amazon.com will replace Walgreens Boots Alliance as one of the 30 members of the Dow. Monday's earnings highlights will include results from Zoom Video Communications, Workday, and Domino's Pizza.
American Tower, eBay, Monster Beverage, Macy's, Lowe's, First Solar, Beyond Meat, and Urban Outfitters report on Tuesday, then Salesforce, TJX Companies, Snowflake, Baidu, Paramount Global, and C3.ai go on Wednesday.
Anheuser-Busch Inbev, Best Buy, Six Flags Entertainment, and Sweetgreen report on Thursday, then Plug Power and fuboTV close the week on Friday.
The economic-data highlight of the week will be the Bureau of Economic Analysis' personal-consumption expenditures index for January on Thursday. The consensus estimate for the core PCE, which excludes volatile energy and food prices, is for a year-over-year gain of 2.8%, which would be down from a 2.9% rise through December.
Other economic data to watch this week include the Census Bureau's new home sales data for January on Monday, S&P CoreLogic's Case-Shiller Home Price Indices for December on Tuesday, and the Bureau of Economic Analysis' second estimate of fourth-quarter gross domestic product on Wednesday.
Monday, 2/26
The Dow Jones Industrial Average's new lineup takes effect. Amazon.com will join the index of 30 stocks prior to the start of trading Monday. Walgreens Boots Alliance will be leaving.
Zoom Video Communications, Workday, Domino's Pizza, Oneok, Li Auto, Unity Software, Trex, Hims & Hers Health, and Freshpet are expected to release results.
The U.S. Census Bureau reports sales data for new single-family homes in January. Economists forecast a seasonally adjusted annual rate of 685,000 new homes sold in the month, compared with 664,000 in December, according to FactSet.
Tuesday, 2/27
Earnings reports from eBay, NextDoor, American Tower, Monster Beverage, Republic Services, Ross Stores, J.M. Smucker, Macy's, iRobot, Lowe's, AutoZone, Portillo's, Cracker Barrel Old Country Store, Devon Energy, Splunk, First Solar, Norwegian Cruise Line, Bumble, Redfin, Vizio Holding, Beyond Meat, Cava Group, Luminar Technologies, Boston Beer, Virgin Galactic, Constellation Energy, Agilent Technologies, and Urban Outfitters are set to be released.
S&P CoreLogic releases its Case-Shiller Home Price Indices for December. Home prices are estimated to have jumped 6.3% year over year in the 20 major metropolitan areas tracked by the index, according to FactSet. That would represent an acceleration from November's 5.4% growth.
Wednesday, 2/28
Salesforce, TJX Cos., Snowflake, Baidu, Paramount Global, C3.ai, Okta, Hewlett Packard Enterprise, Warby Parker, Novavax, Liberty Media, Pure Storage, Duolingo, Advance Auto Parts, AMC Entertainment, WW International, and HP Inc.are scheduled to report results.
The Bureau of Economic Analysis will release its second of three estimates for fourth-quarter gross domestic product. The advance estimate, released in late January, showed the U.S. economy expanded at a stronger-than-expected 3.3% annual rate in the quarter. Economists forecast that estimate will be revised lower, to 2.8%, according to FactSet.
Thursday, 2/29
Anheuser-Busch Inbev, Toronto Dominion Bank, NetEase, Dell Technologies, NetApp, Autodesk, Zscaler, Best Buy, Polestar Automotive, UTZ Brands, Papa John's International, Six Flags Entertainment, Bath & Body Works, Sweetgreen, and SoundHound AI hold conference calls to discuss earnings.
The Bureau of Economic Analysis releases the personal-consumption expenditures index for January. The consensus estimate as measured by FactSet has the PCE rising 2.4% year over year, compared with a 2.6% rise in December. The core measure, used by the Federal Reserve because it strips out volatile energy and food prices, is expected to gain 2.8% year over year, compared with a 2.9% rise in December. Fed officials have said they want to see the core measure on a sustainable path to 2% growth before they start cutting rates.
Friday, 3/1
Plug Power and fuboTV report results.
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