The February Consumer Price Index (CPI) report is scheduled for release on March 12, with subsequent reports on US retail sales and the Producer Price Index slated for March 14.
In the coming week, Wall Street investors will closely monitor inflation data alongside other economic reports, which may offer insights into the US Federal Reserve’s potential rate cut plans later in the year.
Recent optimism among investors regarding interest rate cuts was fueled by Federal Reserve Chair Jerome Powell’s remarks and the US jobs report from last week.
Powell indicated that the central bank is approaching the threshold of confidence in inflation reaching its 2 percent target, which could prompt interest rate adjustments.
Key Economic Developments
The February Consumer Price Index (CPI) report is scheduled for release on March 12.
On March 14, the reports on February’s US retail sales and the Producer Price Index (PPI) will be published.
Scheduled for release on March 15 is the report on industrial production for February.
The upcoming week will feature quarterly earnings reports from the following companies: Oracle, Casey’s General Stores, Asana, On Holding, Kohl’s, International Game Technology, Dollar Tree, Petco Health and Wellness, Williams-Sonoma, Lennar, DICK’S Sporting Goods, Dollar General, Adobe, Blink Charging, Ulta Beauty, and Jabil.
Recent Developments in US Markets
On Friday, the Dow Jones Industrial Average dropped by 68.66 points, or 0.18%, ending at 38,722.69.
The S&P 500 saw a loss of 33.67 points, or 0.65%, closing at 5,123.69, while the Nasdaq Composite fell by 188.26 points, or 1.16%, concluding at 16,085.11.The yield on the two-year Treasury decreased to 4.48% from Thursday’s 4.51%.
The value of the US dollar dropped from 148.02 to 147.06 Japanese yen, while the euro declined from $1.0947 to $1.0942.
The US crude oil benchmark for April delivery decreased by 92 cents to $78.01 per barrel on Friday, while Brent crude for May delivery dropped by 88 cents to $82.08 per barrel.
Gold for April delivery increased by $20.30 to reach $2,185.50 per ounce, while silver for May delivery decreased by 3 cents to $24.55 per ounce.
Across overseas stock markets, European indices showed mixed performance, while most Asian indices experienced modest gains.
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