The Week Ahead on Wall Street

Economic Data

January leading economic indicators are released today. This figure is meant to forecast the health of the economy in the future. Between November and December, the metric was up 0.3%.

Tomorrow look for the December S&P CoreLogic Case-Shiller Home Price Index, the December FHFA Home Price Index, and the February Consumer Confidence Index. Consumer confidence climbed slightly in January after falling in December.

January New Home Sales will be released on Wednesday. A total of 5.64 million homes were sold in 2020—a 5.6% increase from 2019.

On Thursday January durable goods orders, January core capital goods orders, and the January Pending Home Sales Index will be published. Initial jobless claims will also be released. Claims increased to 861,000 last week after several weeks of declines.

On Friday January personal income, January consumer spending, January trade in goods, February Chicago PMI, and the final February University of Michigan Consumer Sentiment Index will be published. January Core inflation will also be released. This measures changes in the costs of goods and services but does not include food and energy.

Earnings Reports

Today Royal Caribbean Cruises (RCL) will report its latest results. Investors will be listening to the earnings call to see if the company’s leadership shares any news about plans to sell ships, upcoming test cruises, and updates about discussions with the CDC.

Tomorrow look for an earnings report from Home Depot (HD). The world’s largest retailer has seen demand for its products boom over the past year. People have turned to Home Depot during the pandemic as they work on DIY projects to pass the time at home.

On Wednesday NVIDIA (NVDA) hands in its report card. The company builds chips which are used mainly for data centers and in video game systems. The ongoing remote work trend and the video game boom has caused demand for NVIDIA’s products to rise.

Salesforce (CRM) will report its earnings on Thursday. In late 2020, Salesforce announced a decision to buy business communication platform Slack for $27 billion. Last week, the Department of Justice requested additional information from both companies as it evaluates the deal. Salesforce says it does not expect regulatory procedures to delay the acquisition, which is scheduled to close during the quarter ending July 31.

On Friday DraftKings (DKNG) hands in its report card. The sports betting platform has reported strong revenue growth over the past three quarters but has not yet turned a profit. DraftKings currently operates in 12 states after recently launching operations in Virginia.

The Week Ahead at SoFi

Wrap up February on an ambitious note with four events—from happy hours about finding your dream job, to real conversations with career coaches. Reserve your space for upcoming events in the SoFi app!


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