The latest inflation data and the start of first-quarter earnings season will be the highlights for investors this week.
On Wednesday, the Bureau of Labor Statistics will publish the consumer price index for December. It is forecast to be up 2.9% from a year earlier. The producer price index will be out on Tuesday.
Other economic data to watch this week will include the National Federation of Independent Business' Small Business Optimism Index for December on Tuesday and the Census Bureau's retail sales report for December on Thursday.
Earnings reports to watch this week will come from BlackRock, Citigroup, Goldman Sachs Group, JPMorgan Chase, and Wells Fargo on Wednesday, then Bank of America, Morgan Stanley , Taiwan Semiconductor Manufacturing, and UnitedHealth Group on Thursday.
Monday 1/13
KB Home reports fourth-quarter fiscal 2024 results
Tuesday 1/14
The Bureau of Labor Statistics releases the producer price index for December. The consensus estimate is for a 3.5% increase year over year. The core PPI, which strips out volatile food and energy prices, is seen rising 3.8%. This compares with gains of 3% and 3.4%, respectively, in November.
The National Federation of Independent Business releases its Small Business Optimism Index for December. Expectations are for a 101.4 reading, roughly even the November figure, which is the highest since the summer of 2021.
Wednesday 1/15
Bank of New York Mellon, BlackRock, Citigroup, Goldman Sachs Group, JPMorgan Chase, and Wells Fargo release earnings.
The Bureau of Labor Statistics releases the consumer price index for December. Economists forecast a 2.9% year-over-year increase in the CPI, two-tenths of a percentage point more than in November. The core CPI, which strips out volatile food and energy prices, is expected to rise 3.3%, matching the November figure. The annual change in the CPI has ranged between 2.4% to 2.9% for the past five months; getting to the Federal Reserve's target of 2% has proved to be a sticky problem.
The Federal Reserve releases the beige book for the first of eight times this year. The report gathers anecdotal information on current economic conditions from the 12 regional Federal Reserve banks.
Thursday 1/16
Bank of America, J.B. Hunt Transport Services, M&T Bank, Morgan Stanley, PNC Financial Services Group, Taiwan Semiconductor Manufacturing, UnitedHealth Group, and U.S. Bancorp hold conference calls to discuss quarterly results.
The Census Bureau reports December sales data for retail and food services. Consensus estimate is 0.6% month-over-month increase, after a 0.7% gain in November. Excluding autos, retail sales are seen rising 0.5%, three-tenths of a percentage point more than previously.
Friday 1/17
Citizens Financial Group, Fastenal, Huntington Bancshares, Regions Financial, SLB, State Street, and Truist Financial report earnings.
The Census Bureau releases new residential construction data for December. The consensus call is for a seasonally adjusted annual rate of 1.3 million privately-owned housing starts, slightly more than in November.
