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Wall Street’s major indexes moved lower on Friday as investors digested a fresh batch of economic data, highlighted by the latest PCE inflation and GDP reports. On the economic front, core PCE inflation rose 3.1% Y/Y in January, a touch hotter than expected. Furthermore, the U.S. GDP growth estimate was revised lower to +0.7% in Q4.
As the earnings season fades, the Federal Reserve’s interest rate decision is expected to take center stage next week. It will be out on Wednesday along with February’s PPI and crude oil inventory numbers. The FOMC will hold its press conference on Thursday. Initial jobless claims and new home sales data for March are also scheduled for the day. Fed’s chair Jerome Powell is scheduled to speak on Saturday.
Micron (MU), Tencent (TCEHY), and Alibaba (BABA) are among the companies reporting their results next week.
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Earnings spotlight: Monday: Dollar Tree (DLTR). See the full earnings calendar.
Earnings spotlight: Tuesday: Lululemon (LULU). See the full earnings calendar.
Earnings spotlight: Wednesday: Tencent, Micron. See the full earnings calendar.
Earnings spotlight: Thursday: Alibaba, FedEx (FDX). See the full earnings calendar.
Earnings spotlight: Friday: XPeng (XPEV). See the full earnings calendar.
Volatility watch: Flutter Entertainment (FLUT) and AXT (AXTI) are set up for a volatile week of trading based on options volume. The most overbought stocks per their 14-day relative strength index include Itafos (ITFS), Alto Ingredients (ALTO), and Cabral Gold (CBGZF). The most oversold stocks per their 14-day Relative
