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Nasdaq, S&P 500, Dow: US CPI & Earnings Set to Drive Market Moves

By:
Arslan Ali
Published: Feb 13, 2024, 13:02 UTC

As January CPI forecasts hint at a drop to 2.9%, Wall Street gears up for a cautious trading day, eyeing Fed's next moves.

Indices Recap

In this article:

Key Insights

  • January CPI expected to drop to 2.9% year-on-year, potentially affecting Fed’s interest rate strategy.
  • Earnings from Coca-Cola and Shopify in focus, alongside Bitcoin’s surge past $50,000 mark.
  • With futures pointing lower and major earnings reports due, the markets are on edge, reflecting the intricate dance between economic data and investor sentiment.

Market Watch: Inflation Data and Earnings Reports Set Tone for Wall Street

Wall Street braces for a cautious start as investors anticipate the January U.S. inflation report, crucial for the Federal Reserve’s interest rate decisions. This comes alongside earnings reports from Coca-Cola and Shopify, with Bitcoin surpassing $50,000.

Expected to slow to 2.9% year-on-year from 3.4%, January’s CPI could impact the Fed’s stance on future rate cuts, aiming for a “soft landing” to curb inflation without harming economic growth.

U.S. stock futures, including the S&P 500, Nasdaq, and Dow, indicate a lower opening, reflecting the mixed performance in previous sessions.

This week also sees key earnings from Coca-Cola, Shopify, Airbnb, Cisco Systems, and Coinbase, offering insights into consumer behavior and the tech sector’s prospects amidst AI and cryptocurrency market fluctuations.

About the Author

Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.

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