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We’re not completely devoid of new information in today’s pre-market: the early part of the year is big for convention-type events like the Consumer Electronics Show (CES) in Las Vegas, where A.I. is unsurprisingly taking center stage, being implemented in everything from automobile dashboards to home refrigerators. That said, pre-market indices are basically flat at this hour, following a mixed first couple trading days this week. Things will eventually pick up, but we need to be patient.
Today we’ll see November Wholesale Inventory levels — expected to trim to -0.2% from the previous month’s -0.4% — and hear from New York Fed President John Williams, but these are still small potatoes compared to what awaits us Thursday and Friday. These will bring the latest Consumer Price Index (CPI) numbers for December — expected to tick up on headline, both month over month and year over year, but notably down on both core prints — as well as Weekly Jobless Claims, the Producer Price Index (PPI), the start of Q4 earnings season and still more Fed officials giving their take on the interest rate environment.
These Q4 reports will include the biggest Wall Street banks — JPMorgan (JPM - Free Report) , Citigroup (C - Free Report) , Bank of America (BAC - Free Report) and Wells Fargo (WFC - Free Report) — but also Delta Air Lines (DAL - Free Report) and UnitedHealth (UNH - Free Report) . Thus, we’ll begin to see results from a wider swath of industries from Q4 even before the full week of earnings season is upon us. This afternoon, we’ll hear from KB Home (KBH - Free Report) on its Q4 performance, giving us a glimpse inside the homebuilding market.
As for now, all four major indices are at or near 52-week highs, which also translate on the Dow, S&P 500 and Nasdaq to all-time index highs. To those with a reasonably long-term memory, this may be a pernicious prospect: back in early January 2022, we were also at all-time highs in the market — and look how that turned out. But this year promises to be different, with anywhere from three to six Fed interest rate cuts penciled into the calendar. This upcoming data will be a good resource for reading the tea leaves; right now, we can gather our strength ahead of this pending deluge of data.
Image: Bigstock
Quiet Before the Economic Data Storm
We’re not completely devoid of new information in today’s pre-market: the early part of the year is big for convention-type events like the Consumer Electronics Show (CES) in Las Vegas, where A.I. is unsurprisingly taking center stage, being implemented in everything from automobile dashboards to home refrigerators. That said, pre-market indices are basically flat at this hour, following a mixed first couple trading days this week. Things will eventually pick up, but we need to be patient.
Today we’ll see November Wholesale Inventory levels — expected to trim to -0.2% from the previous month’s -0.4% — and hear from New York Fed President John Williams, but these are still small potatoes compared to what awaits us Thursday and Friday. These will bring the latest Consumer Price Index (CPI) numbers for December — expected to tick up on headline, both month over month and year over year, but notably down on both core prints — as well as Weekly Jobless Claims, the Producer Price Index (PPI), the start of Q4 earnings season and still more Fed officials giving their take on the interest rate environment.
These Q4 reports will include the biggest Wall Street banks — JPMorgan (JPM - Free Report) , Citigroup (C - Free Report) , Bank of America (BAC - Free Report) and Wells Fargo (WFC - Free Report) — but also Delta Air Lines (DAL - Free Report) and UnitedHealth (UNH - Free Report) . Thus, we’ll begin to see results from a wider swath of industries from Q4 even before the full week of earnings season is upon us. This afternoon, we’ll hear from KB Home (KBH - Free Report) on its Q4 performance, giving us a glimpse inside the homebuilding market.
As for now, all four major indices are at or near 52-week highs, which also translate on the Dow, S&P 500 and Nasdaq to all-time index highs. To those with a reasonably long-term memory, this may be a pernicious prospect: back in early January 2022, we were also at all-time highs in the market — and look how that turned out. But this year promises to be different, with anywhere from three to six Fed interest rate cuts penciled into the calendar. This upcoming data will be a good resource for reading the tea leaves; right now, we can gather our strength ahead of this pending deluge of data.
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