Stocks to Keep an Eye on This Week: Coinbase, DraftKings, Deere, Coca-Cola, Cisco, and More

This week, the spotlight is on the financial world as over 60 companies listed on the S&P 500 are set to reveal their quarterly results. Big players like Coca-Cola, Cisco Systems, Applied Materials, and Deere are among those in the lineup.

We're now past the halfway point of earnings season, with approximately 60% of S&P 500 companies having already shared their fourth-quarter results.

A significant economic event this week is the release of January’s Consumer Price Index (CPI) on Tuesday. Economists are expecting a 2.9% year-over-year rise, slightly lower than December's numbers. The Bureau of Labor Statistics will provide insight into the CPI, including a consensus estimate of a 2.9% increase year over year. The core CPI, excluding volatile food and energy prices, is anticipated to rise by 3.7%, compared to the previous 3.9%. This marks the lowest annualized change in the core CPI since May 2021.

Another noteworthy release is the Small Business Optimism Index for January by the National Federation of Independent Business. December saw the index at 91.9, marking the 24th consecutive month below the 50-year average of 98.

The Census Bureau is also set to report retail sales data for January. Economists are predicting a slight decline of 0.2% in month-over-month consumer spending, following a 0.6% increase in December. Excluding autos, retail sales are expected to edge up by 0.1%, a small decrease from December.

The National Association of Home Builders will contribute to the economic narrative with its Housing Market Index for February. The consensus is a reading of 46, two points higher than January.

As the week concludes, NatWest Group, PPL, and Vulcan Materials will hold conference calls to discuss their quarterly results on Friday. Simultaneously, the University of Michigan will release its Consumer Sentiment Survey for February, with expectations set at a reading of 79, aligning with the December figure. In December, consumers' expectations for year-ahead inflation were at 2.9%, marking the lowest level in three years.

This week in finance is packed with insights and data that could influence market dynamics, making it an essential period for investors to watch closely.

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