Your Trading Week Ahead — February 6th

Welcome to Your Trading Week Ahead for February 6th. Here’s what you need to know before you go…

Quick recap

Equity markets finished higher following another volatile week for stocks. The S&P 500 closed up 1.56% at 4,500. The Dow finished higher by 1.05% at 35,089. Even tech stocks got a lift after outpacing to the downside, as the Nasdaq closed up 2.38% at 14,098.

The action came after a mixed earnings week for some of the biggest names on Wall Street. Meta ($FB) fell out of the coveted trillion-dollar club, losing $251 Billion in market cap after posting a Q4 miss and guiding lower on slowing revenue. Meanwhile, Alphabet ($GOOGL), Amazon ($AMZN), and Advanced Micro Devices ($AMD) posted solid numbers — helping the major indices claw back some of their early-2022 losses.

Crypto update

Over in crypto land, many of the biggest names are starting to catch a bid. Bitcoin ($BTC) is up a solid 10% and Ethereum ($ETH) has moved higher by 15% since last Sunday. At writing, the leading cryptocurrencies are trading at $41,686 and $3,005 respectively. Check out Bitcoin’s volatile price action year-to-date:

The rest of the crypto market is grinding higher on the week as well. Binance Coin ($BNB) +8.6%, Cardano ($ADA) +6.8%, Solana ($SOL) +20%, XRP ($XRP) +9.5%, Terra ($LUNA) +11% (after falling 28% the prior week), Polkadot ($DOT) +15%, Avalanche ($AVAX) +10.5%, Dogecoin ($DOGE) +4%, and Shiba Inu ($SHIB) +7.3% are all recovering after a dreadful start to the year.

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What to watch this week

Earnings roundup

Last week, we heard from the last of the “trillion-dollar club”. But there’s still a ton of popular companies left to report, including several key earnings to watch this week.

Pfizer Inc. ($PFE), Disney ($DIS), Twilio ($TWLO), Chipotle ($CMG), Uber ($UBER), Lyft ($LYFT), Coca-Cola ($KO), PepsiCo ($PEP), AstraZeneca ($AZN), and Twitter ($TWTR) highlight the week ahead.

Here’s a full break down of stocks to keep an eye on:

Economic calendar

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

• Consumer credit – Monday at 3pm ET
• NFIB small-business index (Jan.) – Tuesday at 6am ET
• International trade (Dec.) – Tuesday at 8:30am ET
• Real household debt (Q4 Y/Y) – Tuesday at 11am ET
• Wholesale inventories (Dec. revision) – Wednesday at 10am ET
• Fed. Gov. Michelle Bowman speaks – Wednesday at 10:30am ET
• Cleveland Fed President Loretta Mester speaks – Wednesday at 12pm ET
• Initial and continuing jobless claims – Thursday at 8:30am ET
• Consumer price index and Core CPI (Jan. M/M) – Thursday at 8:30am ET
• Consumer price index and Core CPI (Jan. Y/Y) – Thursday at 8:30am ET
• Federal budget (Jan.) – Thursday at 2pm ET
• Richmond Fed President Tom Barkin speaks – Thursday at 7pm ET
• University of Michigan consumer sentiment index (Feb. preliminary) – Friday at 10am ET
• University of Michigan 5-year inflation expectations (Feb. preliminary) – Friday at 10am ET

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