Inflationary pressures continue to weigh on investors, but the economy marches on. A few companies, like BABA and BYND, even showed earnings beats last week. Investors are eagerly awaiting this week’s major earnings releases, such as COST and AVGO.
Aside from earnings, it’s worth watching for the following three economic events this week. All can prove to be major market movers. Check out TipRanks’ Economic Calendar for all upcoming events.
Durable Goods Orders – Monday, February 27 – 3:30 P.M. – This monthly survey measures current industrial activity. It gives investors insight into the supply chain, which seems to have untangled most of its COVID-era snags. On Friday, preliminary February U.S. Purchasing Managers’ Index (PMI) data came in ahead of expectations for both the manufacturing and services sectors. That could be a sign of forthcoming strong Durable Goods Orders numbers.
Case Shiller Home Price Index – Tuesday, February 28 – 8:00 A.M. – This index tracks the monthly change of the value of single-family homes. This index closely reflects how home sellers and buyers are acting, according to their own best interests. The economy has been showing strength lately, with improved spending and a robust labor market, so the Case-Shiller could show a rise.
Consumer Confidence Index – Tuesday, February 28 – 5:00 P.M. – This data, which is based on a survey of consumers, measures people’s level of optimism about their expected financial situation. It’s difficult to predict how average Americans are feeling about the economy – on the one hand, inflation remains through the roof, but on the other hand, last week’s survey of manufactures and service providers reflected an uptick in business activity. This week’s index could well reflect an optimistic outlook by consumers.
