It was a quiet week. Both for economic data and Market activity.
The S&P roller coaster last week: up, down, down slightly, up, and up.
Consumer sentiment: While corporations seem to have weathered the pandemic storm for the most part, small businesses have not recovered as well. Small business accounts for almost 2/3 of new job creation. The prior sentiment number came in at 79 and expectations were for an 81. The actual number came in just above 76.
Inflation: The CPI (consumer) January number came in at +0.3% as expected. YOY the number dropped a touch from +1.5% down to +1.4%.
Jobless claims: They came in at 793,000.
Focus of the week: There’s a lot of important economic data coming out in this holiday shortened week. From Fed minutes, to retail sales, to housing data, lots of important feedback is on its way this week.
Holiday: U.S. Markets were closed Monday in observance of Presidents Day.
Earnings season: It’s starting to wind down. Some of the companies reporting this week: Deere, Marriott, Walmart, and Waste Management.
Indicator focus: Retail sales, PPI, industrial production, Fed minutes (Wed); housing starts, Philly Fed survey, jobless claims (Thu); and existing home sales (Fri).