The Week Ahead on Wall Street

Economic Data

There are no economic data reports scheduled today.

December job openings and the January NFIB Small Business Index will be released tomorrow, which tracks the health of small businesses in the US. The index declined in December as COVID-19 cases spiked in many parts of the country and small businesses had to operate under more stringent restrictions.

On Wednesday, December wholesale inventories, the January federal budget, January Core CPI, and the January Consumer Price Index will be released. The Consumer Price Index is a metric tracking the average price of a basket of consumer goods and services like food and medical care. The metric climbed by 0.4% in December largely because of higher gasoline prices.

Initial jobless claims will be released on Thursday. Last week, claims fell to 779,000. Though unemployment is still far higher than pre-pandemic levels, this was the third straight week of declines—a sign that the labor market is moving in the right direction.

Finally, the preliminary February Consumer Sentiment Index will come out on Friday. This metric tracks how average people are feeling about the health of the economy. This metric fell in January as consumers worried about political instability and slower-than-expected vaccine rollout efforts.

Earnings Reports

Today look for an earnings report from Take-Two Interactive Software (TTWO), the video game holding company which owns big names like Borderlands, Grand Theft Auto, Red Dead Redemption, and NBA. Video game sales have surged during the pandemic as people look for ways to pass the time at home. Additionally, video game developers are adding new ways for players to spend money within games with virtual currency and add-ons.

Tomorrow Twitter (TWTR) will report its earnings. The social media platform made headlines last quarter after it suspended former President Donald Trump’s account. Twitter has also been working to grow its advertising revenue. Investors will be eager to see how these factors have impacted the company’s bottom line.

On Wednesday Uber (UBER) will report earnings. The company’s core rideshare business has continued to suffer, but Uber continues to see surging demand for its delivery services. Last week Uber announced plans to acquire alcohol delivery app Drizly for $1.1 billion.

On Thursday Disney (DIS) will release its earnings. The media giant’s fiscal 2020 revenue declined by 6% as a result of movie theater closures, cruise cancelations, and park restrictions. But the company’s streaming services, which include Disney+ and Hulu, continue to be a bright spot. Additionally, some analysts expect that when more people have access to COVID-19 vaccines, businesses at Disney parks will surge because of pent-up demand.

On Friday Dominion Energy (D), the Virginia-based power and energy company, will share its latest results. The company beat expectations with its last two earnings reports, but its shares fell 9.2% over the course of 2020.

The Week Ahead at SoFi

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