On an annual basis, consumer prices were up 6.4% in January versus the expected 6.2% rise
While rising food, energy and shelter costs boosted the inflation reading last month, another set of data showed retail sales rebounding in January with a 3% surge. The strong economic data coupled with hawkish comments from Fed officials have renewed investor fears that there might be additional rate hikes in the pipeline.
Top stories from last week
- Deere & Co (DE) jumped 7.5% on Friday after the world’s largest farm equipment maker raised its annual profit forecast and beat quarterly earnings expectations.
- Roku Inc (ROKU) offered an upbeat first-quarter revenue guidance after the streaming device company reported better-than-expected fourth-quarter results. Shares gained 30% last week.
- Cisco (CSCO) shares hit a 9-month high on Thursday as the company raised its full-year earnings growth forecast. Shares added 7% through the week.
The week ahead
- U.S. markets will be closed on Monday, February 20 in observance of Presidents’ Day.
- Earnings this week: Walmart (WMT), Home Depot (HD), Palo Alto Networks (PANW), Baidu (BIDU), Nvidia (NVDA), Alibaba (BABA), Moderna (MRNA), EOG Resources (EOG), etc.
- Economic data this week: PMI data, FOMC minutes, personal consumption expenditure, etc.
Stock watchlist for this week#
ETF watchlist for this week#
#This content is merely for illustrative purposes and does not constitute investment advice or a recommendation to buy or sell securities of any kind.
