Week Ahead On Wall Street

By: James Flippin · March 27, 2023 · Reading Time: 3 minutes

Economic Data

Today, the Dallas Fed will release its Manufacturing Index. This gauge of general manufacturing activity in Texas has contracted for ten consecutive months.

Tomorrow, investors will get an update on the size of the trade deficit for February, which widened to $91.5 billion in January. Additionally, the home price index for January will be released. In December, this index fell 0.9% which marked the sixth consecutive month of decreasing home prices.

On Wednesday, investors will get an update on pending home sales for February. Home sales unexpectedly surged 8.1% last month, so investors will be eager to see if this momentum continues. There will also be a revision to the 30-year mortgage rate, which currently sits at 6.48%.

On Thursday, the final numbers for the GDP growth rate will be released in addition to the number of first-time jobless claims. In Q4 2022, the US expanded at an annualized rate of 2.7% which was slightly below expectations.

On Friday, Wall Street will get insight into how consumers are faring with the release of the personal income and spending reports. In January, personal income rose 0.6% while spending jumped 1.8%. Core PCE prices will also be released, which rose 0.6% month-over-month in January. This inflation metric excludes food and energy.


Carnival Corporation (CCL) will kick off the earnings week with an update on the state of the cruise industry. Last quarter, the budget cruise line posted revenue of $3.84 billion, a dramatic 198% increase from the year prior. However, the company is still burning cash and posted a $1.6 billion net loss.

Tomorrow, Micron Technology (MU) and Lululemon (LULU) will both release earnings reports. Notably, Lulu’s belt bag, which has amassed a cult following on TikTok, has just been restocked after six months of being sold out. Investors will be eager to see how this one product’s success impacts Lulu as a whole.

On Wednesday, two major B2B suppliers Cintas Corporation (CTAS) and Paychex (PAYX) will offer insight into their latest quarter. In particular, as a major provider of HR, payroll, and benefits resources, Paychex’s report will highlight how companies are currently managing their workforces.

On Thursday, the EV charging company, Evgo (EVGO), will report earnings and discuss the future of electric vehicles, charging stations, and the clean energy revolution in America.

The Week Ahead at SoFi

Go from maxing out your credit cards to maximizing how you use them. Join us for this week’s Your Next Dollar hosted by Brian Walsh, CFP to learn new ways to approach the role of credit cards within your finances.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

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