After a slow start to the week, the news flow will intensify with the release of crucial inflation data, followed by the unofficial kickoff of earnings season on Friday.
On Thursday, the U.S. Bureau of Labor Statistics will report the Consumer Price Index for December. The data will be watched closely for the latest inflation trends, especially with some traders still betting that the Federal Reserve will begin cutting the federal-funds rate by March.
On Friday, big U.S. banks take their traditional role at the front of the earnings-season pack. Bank of America, JPMorgan, and Wells Fargo will be among the names reporting fourth-quarter results.
Monday 1/8
Jefferies Financial Group reports fourth-quarter fiscal-2023 results.
Tuesday 1/9
Albertsons announces third-quarter fiscal-2023 earnings.
The CES technology event kicks off in Las Vegas, Nev. The trade show runs through Friday.
The National Federation of Independent Business releases its Small Business Optimism Index for December. Consensus estimate is for a 90.8 reading, roughly even with the November data.
Wednesday 1/10
KB Home releases fourth-quarter fiscal-2023 results.
Thursday 1/11
The Bureau of Labor Statistics releases the consumer price index for December. Consensus estimate is for the CPI to increase 3.2% year over year, one-tenth of a percentage point more than in November. The core CPI, which excludes volatile food and energy prices, is expected to rise 3.8%, compared with a 4% gain previously. The annualized change in the CPI is near its lowest level since March of 2021, which Wall Street thinks will allow the Federal Open Market Committee to start cutting the federal-funds rate as soon as March.
Friday 1/12
Bank of America, Bank of New York Mellon, BlackRock, Citigroup, Delta Air Lines, JPMorgan Chase, UnitedHealth Group, and Wells Fargo report quarterly results.
The BLS releases the producer price index for December. Economists forecast a 1.3% year-over-year rise in the PPI, and a 1.9% increase for the core PPI. This compares with gains of 0.9% and 2.0%, respectively, in November.
