The Federal Reserve will release the minutes from its January meeting this Wednesday, providing investors with insights into the central bank’s deliberations on interest rates. At that meeting, the Fed decided to keep rates unchanged. Several Fed officials are scheduled to speak this week, including Philadelphia Fed President Patrick Harker and San Francisco Fed President Mary Daly.
Investors will closely follow their remarks for clues on future monetary policy. On the economic data front, existing home sales figures for January will be released on Friday. This data and Thursday’s homebuilder confidence index will offer a snapshot of the housing market’s health.
The final consumer sentiment survey results for February are also due out.
Walmart’s strong quarterly performance
Inflation concerns have weighed on consumer outlook, and these results will show how sentiment is shaping up amid economic uncertainties.
Corporate earnings season continues, with notable reports expected from Walmart, Alibaba, Baidu, Carvana, and Rivian. Walmart’s earnings on Thursday will be in focus after the retail giant’s strong performance last quarter. Walmart’s e-commerce revenue surged 27%, and advertising revenue rose 28% in the prior quarter.
Chinese e-commerce firms Alibaba and Baidu will provide insights into their performance amidst China’s economic landscape and ongoing tech developments. Online used-car retailer Carvana’s report comes as the company faces scrutiny over its business practices, including the sale of subprime loans. Despite the shortened trading week due to the Presidents Day holiday on Monday, the flurry of economic data, corporate earnings, and Fed communications will keep investors busy.
The outcomes of these events will likely set the tone for market movements in the coming weeks.
