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Coffee With Greta: CPI Week Begins


DJIA Futures: +1 (+0.01%)

SPX Futures: +6 (+0.1%)

NASDAQ Futures: +50 (+0.4%)

Good morning friends!

Futures are mostly higher as traders look to rebound from the worst week since December and look ahead to key inflation data. 

Let’s get right to it!

Inflation Week Begins

It’s inflation week yet again with traders awaiting the January CPI. 

That data will be released by the Bureau of Labor Statistics Tuesday morning at 8:30 a.m. ET. 

Headline inflation is expected to have risen 0.4% monthly and 6.2% annually at the beginning of 2023. 

The core CPI is expected to rise 0.3% monthly and 5.4% year over year. 

The data will give traders more insight on the impact of the Fed’s rate hikes so far after the Fed chair said the “disinflationary process has begun”. 

The first piece of key inflation data will come later today with the release of the New York Fed’s survey of consumer expectations at 11:00 a.m. ET.

The market is focused on the 1-year and 5-year inflation expectations in that survey. 

Another Big Earnings Week

On top of the inflation data in focus this week, the market will also continue to digest more Q4 earnings. 

Here’s some of the key companies scheduled to report: 

  • Tuesday AM: Coca-Cola (KO), Marriott (MAR)
  • Tuesday PM: Airbnb (ABNB)
  • Wednesday AM: Kraft Heinz (KHC), Roblox (RBLX)
  • Wednesday PM: Cisco (CSCO), Shopify (SHOP), Roku (ROKU)
  • Thursday AM: Hasbro (HAS)
  • Thursday PM: DoorDash (DASH), DraftKings (DKNG)

Meta Planning More Layoffs

Meta Platforms (META) shares are up 2.3% ahead of the open amid reports the company is planning another round of layoffs. 

The Financial Times reported the social media giant has delayed finalizing the budgets of several teams as it prepares for more layoffs.

Those cuts would be on top of the 11,000 employees let go by Meta in November. 

Meta has not confirmed the report and it’s unclear how big the next round of cuts could be. 

Ford EV Announcement Coming Up

Ford (F) shares are 0.1% higher in premarket trade ahead of an EV announcement today. 

The automaker announced Sunday that it had something to say about “its plan to rapidly scale EVs and make them more accessible to customers”. 

Ford is scheduled to host a streaming event at 1:45 p.m. ET. 

Analysts are betting the company will announce a new battery plant with Contemporary Amperex Technology Co. 

Ford said last summer it was exploring batteries based on the company’s technology and it planned to localize lithium iron phosphate battery production in North America.

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