Your Trading Week Ahead — February 21st

Welcome to Your Trading Week Ahead for February 21st. U.S. stock and bond markets are closed today in observance of Presidents’ Day. As for the shortened trading week, here’s what you need to know before you go…

Quick recap

Equity markets slipped lower to the downside last week as Russia-Ukraine tensions and broader inflation concerns continued permeating the minds of investors.

The S&P 500 closed down 1.58% at 4,348. The Dow finished lower by 1.90% at 34,079. Volatility among tech stocks continued as the Nasdaq closed down 1.76% at 13,548.

Crypto update

Cryptocurrencies are largely moving lower on the week as well. At writing, Bitcoin ($BTC) is down 8.8% in the last seven days at $38,900. Meanwhile, Ethereum ($ETH) is right behind the leading crypto, down over 7% near $2,720. Check out the hourly charts below — you can clearly see the very similar price action between the top two crypto’s.

Market Rebellion Crypto

Most other digital assets like Cardano ($ADA) -9%, Solana ($SOL) -7%, Terra ($LUNA) -3.2%, Polkadot ($DOT) -8.3%, Dogecoin ($DOGE) -5.8%, and Shiba Inu ($SHIB) -11.5% are also trending lower on the week.

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What to watch this week

Earnings roundup

Earnings season continues with another packed week of popular stocks. We’ll hear quarterly data from Alibaba ($BABA), Block, Inc. ($SQ), The Home Depot ($HD), Macy’s ($M), Lowes ($LOW), Coinbase ($COIN), Etsy ($ETSY), eBay ($EBAY), Teladoc ($TDOC), and Wayfair ($W) just to name a few.

Here’s a full break down of stocks reporting:

Calendar via Earnings Whispers

Economic calendar

There are several events on the calendar this week with the potential to move markets. Here’s some of the most important things to watch:

  • S&P Case-Shiller home price index (Dec. change YoY) – Tuesday at 9am ET
  • FHFA home price index (Dec. change YoY) – Tuesday at 9am ET
  • Markit manufacturing & services PMI (flash Feb.) – Tuesday at 9:45am ET
  • Consumer confidence index (Feb.) – Tuesday at 10am ET
  • Initial and continuing jobless claims – Thursday at 8:30am ET
  • Gross domestic product revision (SAAR Q4) – Thursday at 8:30am ET
  • Gross domestic income (SAAR Q4) – Thursday at 8:30am ET
  • New home sales (Jan.) – Thursday at 10am ET
  • Nominal personal income & consumer spending (Jan.) – Friday at 8:30am ET
  • PCE & Core inflation (Jan. monthly) – Friday at 8:30am ET
  • PCE inflation (YoY) – Friday at 8:30am ET
  • Real disposable income & consumer spending (Jan.) – Friday at 8:30am ET
  • University of Michigan consumer sentiment (Feb. final) – Friday at 10am ET
  • 5-year inflation expectations (Feb. final) – Friday at 10am ET
  • Pending home sales (Jan.) – Friday at 10am ET

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