Dow Jones, Nasdaq, S&P 500 weekly preview: January CPI report takes the central stage
==========

The Dow Jones Industrial Average (DJI) ended the week flat, while the Nasdaq Composite Index (IXIC) surged 2.3% to close in on a new record high above the 16000 mark. The S&P 500 rose 1.4% last week to deliver its first ever weekly close above the 5000 handle. The likelihood of a rate cut in March has diminished, with the market consensus now shifting towards a possible cut no sooner than May. The Consumer Price Index (CPI) inflation data for January is due and is highly anticipated as it could significantly influence the Federal Reserve's monetary policy decisions. Key economic data releases this week include updates on consumer sentiment, retail sales, and the housing market. Earnings season continues, with 67% of S&P 500 companies reporting their Q4 2023 results. The blended earnings growth rate for the S&P 500 stands at 2.9% for Q4 2023. The forward 12-month P/E ratio for the S&P 500 is currently at 20.3, which is elevated compared to historical standards. Analysts have varying views on the market, with some highlighting the favorable backdrop and others cautioning about potential risks.

#DowJones #Nasdaq #S&p500 #CpiReport #Inflation #FederalReserve #MonetaryPolicy #EconomicData #ConsumerSentiment #RetailSales #HousingMarket #EarningsSeason

https://www.investing.com/news/stock-market-news/dow-jones-nasdaq-sp-500-weekly-preview-january-cpi-report-takes-the-central-stage-432SI-3300566