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After a slow start to the week, the news flow is set to intensify with the release of crucial inflation data and the unofficial kickoff of earnings season on Friday.

Inflation Data

On Thursday, the U.S. Bureau of Labor Statistics will report the Consumer Price Index (CPI) for December. This data will be closely watched for the latest trends in inflation, especially as some traders still believe that the Federal Reserve will begin cutting the federal-funds rate by March.

Earnings Season Kickoff

Friday marks the beginning of earnings season, with big U.S. banks taking the lead. Bank of America, JPMorgan, and Wells Fargo are among the major names expected to report their fourth-quarter results.

Monday 1/8

Jefferies Financial Group releases their fourth-quarter fiscal-2023 results.

Tuesday 1/9

Albertsons announces their third-quarter fiscal-2023 earnings.

  • The CES technology event kicks off in Las Vegas, Nev. The trade show runs through Friday.
  • The National Federation of Independent Business releases its Small Business Optimism Index for December. The consensus estimate is for a reading of 90.8, roughly in line with the November data.

Wednesday 1/10

KB Home releases their fourth-quarter fiscal-2023 results.

Thursday 1/11

Consumer Price Index Update

The latest figures from The Bureau of Labor Statistics (BLS) reveal that the consumer price index for December is set to be released soon. Experts estimate that the CPI will show a year-over-year increase of 3.2%, which is slightly higher than the previous month’s figure. Additionally, the core CPI, which excludes volatile food and energy prices, is projected to rise by 3.8%, down from the previously predicted 4% gain. It’s worth noting that the annualized change in the CPI is approaching its lowest level since March 2021. This data is leading some experts on Wall Street to believe that the Federal Open Market Committee may decide to reduce the federal-funds rate by March.

Friday 1/12

Quarterly Reports Announcement

On Friday, several key companies will be announcing their quarterly results. These include Bank of America, Bank of New York Mellon, BlackRock, Citigroup, Delta Air Lines, JPMorgan Chase, UnitedHealth Group, and Wells Fargo. The performance of these companies will be closely watched and analyzed as they provide important insights into the current state of the economy.

Producer Price Index Update

Another significant update will be the release of the producer price index for December by The BLS. Economists are predicting a year-over-year rise of 1.3% in the PPI and a 1.9% increase for the core PPI. These figures represent a slight increase compared to the gains seen in November (0.9% and 2.0% respectively).

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