Your portfolio will be affected by major earnings releases this week, no doubt. Aside from earnings from TSLA, CVX, and other major market movers, keep your eye on these three economic events this week.
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To track all key economic events, follow TipRanks’ Economic Calendar.
- Durable Goods Orders – Thursday, Jan. 26 – This monthly survey gives us a read on industry’s soundness. An uptrending number means U.S. industries’ products are in demand, and we could expect strong earnings results from companies in segments such as manufacturing, transportation and machinery.
- Disposable Personal Income – Friday, Jan. 27 – This measures how much money Americans have left for spending or saving after paying taxes. Increased disposable income implies that people will spend more on goods and services, thus boosting the economy. Conversely, a drop in disposable income could be a sign that U.S. manufacturers and service providers have a rough road ahead.
- New Home Sales – Thursday, Jan. 26 – This reading, of sales of new homes in the previous month, reflects the strength or weakness of the U.S. economy. The January report is unlikely to be bullish, given that sales of existing homes had fallen for 11 consecutive months, as of December 2022; sales of new homes and existing homes tend to be closely correlated.
