Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, February 17, 2023.
Brendan McDermid | Reuters
Here are the most important news items investors need to start their trading day:
1. Short week shuffle
Stocks are having a mixed week and a three-day holiday weekend, meaning the bulls have only four days to shake off recent losses. The Dow and S&P 500 ended last week slightly lower. This is the Dow’s third consecutive week of losses and the S&P’s second consecutive bracket. Nasdaq managed to end in positive territory as the closing bell rang on Friday. This week, investors will receive a new big earnings table to analyze (see below). On Wednesday, they will gain insight into how Federal Reserve policymakers are thinking in the minutes from January 31 to February 31. 1 Fed meeting is released. According to Live market updates.
2. Want more income? Did you get them?
A used car “vending machine” from Carvana displays vehicles on December 9, 2022 in Miami, Florida.
Joe Raedle | beautiful pictures
Earnings season entered a new phase this week, with retailers starting to report. Home Depot and Walmart posted holiday quarter earnings Tuesday morning. (See below.) Target and Lowe’s will also report next week. But before that, here are some of the big names reporting the rest of this week:
- Tuesday: caesar entertainment, Coinbase, Palo Alto . Network (after the bell)
- Wednesday: ebay, Etsy, lucid, Nvidia (after the bell)
- Thursday: of John’s father, Nicholas (before the bell); carvana, other than meat, Block, Discovery of Warner Bros., live country (after the bell)
3. Walmart reports holiday quarter results
A trolley outside a Walmart store on January 24, 2023 in Miami, Florida. Walmart has announced that it will raise the minimum wage for store employees in early March, store workers will earn between $14 and $19 an hour.
Joe Raedle | Getty Images News | beautiful pictures
The economy has given investors mixed signals in recent months. It doesn’t seem like holiday sales in general are too hot, but retail sales easily beat expectations in January. Inflation is cooling a bit, but remains high and forcing shoppers to be more cautious about how they spend their money. That’s where Walmart arrive. The nation’s largest retailer, grocer and employer log income and revenue easily beat Wall Street’s expectations for the holiday quarter. And, according to CEO Doug McMillon, the company is entering the new financial year with a lot of momentum, as the economy faces uncertainty this year.
4. Home Depot to increase salary
A customer walks into a Home Depot store on August 16, 2022 in San Rafael, California.
Justin Sullivan | beautiful pictures
warehouse at home said on Tuesday that it would spend $1 billion to salary increase for its hourly workers. The pay hike officially goes into effect on February 6, so employees should see their pay skyrocket this month. The move makes Home Depot the latest retailer to realize how hard it is to keep employees happy in this tight job market. Walmart recently said it would raise the minimum wage to $14, effective March. Home Depot also income statement Tuesday morning. The company missed Wall Street revenue expectations for the first time since November 2019 and gave a lackluster outlook for the year.
5. Biden makes a statement
US President Joe Biden walks with Ukrainian President Volodymyr Zelenskyy during an unannounced visit in Kiev on February 20, 2023.
Evan Vucci | AFP | beautiful pictures
President Joe Biden made a surprise visit arrived in Kyiv on Monday, walking the streets of Ukraine’s capital with Ukraine’s president, Volodymyr Zelenskyy, even as air raid sirens went off. It’s a bold move for Biden, who has pledged support and aid to Ukraine as the country faces the one-year anniversary of the Russian invasion, as it feels like a direct shot at President Trump. Russian President Vladimir Putin. The Kremlin’s war has so far been seen as a failure, leaving Putin to blame the West and even the wealthy oligarchs that have prospered under his rule. According to live war update.
— Fred Imbert, Melissa Repko, Gabrielle Fonrouge and Karen Gilchrist of CNBC contributed to this report.
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