Ben Lichtenstein

Following Friday's 1% gain in the S&P 500 in reaction to a better-than-expected jobs report, global indices are mixed as China returned from its four-day holiday weekend to a lackluster start to the week. The focus this week will primarily be on economic data with inflation figures front and center; we have Consumer Price Index (CPI) Wednesday and the Producer Price Index (PPI) Thursday, as investors look for more clues as to when and how much the Fed will cut rates this year. In addition to the inflation figures, keep an eye out for the Fed minutes due out Wednesday, a handful of Fed speakers throughout the week, and lastly, Consumer Sentiment data due out to cap the week off Friday.

This week we’re also going to kick off another round of earnings, with financials the primary focus on Friday. We’ll hear from Citigroup (C), JPMorgan Chase (JPM), and Wells Fargo (WFC). We also have Delta (DAL), CarMax (KMX), Fastenal (FAST), and Constellation Brands (STZ) as well.

Lastly, with stocks and stock index products just off all-time highs suggesting investors are confident the economy will remain strong as the Fed makes progress on inflation, we have gold at historic levels with continued buying from central banks (primarily China), and crude oil at stubbornly elevated levels. All should be watched as we begin another busy week on Wall Street.

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