Week Ahead on Wall Street

By: James Flippin · February 13, 2023 · Reading Time: 3 minutes

Economic Data

Today, the New York Fed 1-year and 5-year inflation expectations reports are due for January. The December reading showed that median 1-year expectations dropped to 5%. This was the lowest reading since August 2021. Economists will look to see if this trend continues.

Tomorrow, investors will learn whether the Fed is achieving its goal of hitting an economic “soft landing” with the release of the Consumer Price Index, or CPI, along with the core inflation rate. In December, the average rate of inflation slowed for the 6th-straight month but still came in at a relatively-high 6.5%.

On Wednesday, investors will get an update on the average 30-year mortgage rate, industrial production, and monthly retail sales. Retail sales declined 1.1% month-over-month in December, extending November’s downward trend.

Thursday will offer investors insight into the real estate industry with reports for housing starts and building permits. In December, building permits fell 1% from November to 1.34 million. Additionally, investors can expect speeches from two members of the Federal Reserve.

On Friday, investors will get monthly reports for imports and exports. In December, exports dropped 2.6% from November, while imports rose 0.4% over the same period.

Earnings Data

Roomba-maker iRobot (IRBT) will get things rolling by shining light on its holiday season. With an acquisition by Amazon (AMZN) pending, iRobot will likely also offer insight into how it plans to integrate its portfolio of products with its new parent company.

Tomorrow, a week of outsized focus on the real estate sector begins in earnest with Airbnb (ABNB). The home rental pioneer is coming off a strong Q3 2022 – it posted a record profit of $1.2 billion. Coca-Cola (KO) and the car rental company Avis (CAR) will also hand in report cards.

On Wednesday, investors will hear from property marketplaces on both the rental and ownership side of the real estate industry: Tripadvisor (TRIP) and Zillow (Z), respectively. Additionally, Kraft Heinz (KHC) will report. As a massive, diversified conglomerate, it will be telling to see the effect inflation is having on Kraft Heinz’s portfolio of food and beverage products.

On Thursday, the real estate-related news will continue as the recently re-listed WeWork (WE) reports. After years of turmoil, preliminary numbers show that WeWork may surpass its fourth quarter guidance. Elsewhere, DoorDash (DASH) will offer an update on the food delivery industry.

On Friday, Marcus & Millichap (MMI) will round off the week. The global brokerage firm will be able to provide a comprehensive look at both commercial and residential real estate markets.

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