Happy Sunday! Hope you’re all well and have had a great week. Unfortunately, I’ve spent the last four days in bed, feeling very unwell (I suspect Covid, but I refuse to pay for tests), so I’ve not been able to keep an eagle eye – says the blind man – on the news. So, apologies in advance there; I don’t believe I’ve missed any major events, but do let me know if so!
Another busy week this week. Earning season has ended for many of the larger companies, but is still ongoing. I expect to continue separate “Company Earnings” posts for at least the next week, possibly two. Outside of that, we also had inflation data for both the US and UK.
Key Events
US CPI (Inflation) Data for January 2023
On Tuesday, we got US CPI (inflation) data for January.
Year-over-year, headline CPI fell to 6.4%, slightly lower than December’s 6.5%. However, this missed expectations of 6.3%. Month-over-month, headline CPI rose 0.5% (6.0% annualised), in-line with expectations, but higher than December’s 0.1%.
Core CPI (excluding food and energy) also met expectations. Year-over-year, core CPI came in at 5.6%. Month-over-month, core CPI rose by 0.4% (4.8% annualised), compared to December’s 0.3% (3.6% annualised).
It’s worth noting here that the way in which CPI is measured has changed in 2023. Using the old methodology, headline CPI would have (reportedly) come in at around 6.7% year-over-year. This would have in fact meant a higher inflation reading than December!
UK CPI (Inflation) Data for January 2023
On Wednesday, we received UK CPI (inflation) data for January 2023.
CPI came in at 10.1% year-over-year, lower than December’s 10.5%. This reading was also better than the expected 10.3%. Month-over-month, CPI actually fell by 0.6%, the first time in around a year, with the biggest declines seen in fuel and transportation; specifically, air transportation.
Inflation in the UK is proving to be somewhat ‘sticky’, with the last five reports (i.e., from September 2023) all coming in above 10.0%. The forecast for February’s headline CPI is 9.6%, so meeting expectations or even beating them to the downside would be a positive sign for the UK.
Stock Market News
Company Earnings Reports for W/E 19th February 2023
On Tuesday, I covered the earnings reports of the following 3 companies. Click here to find out what happened:
- Palantir Technologies (PLTR) – Q4 Earnings
- The Coca-Cola Company (KO) – Q4 Earnings
- Airbnb (ABNB) – Q4 Earnings
On Wednesday, I covered the earnings reports of the following 4 companies. Click here to find out what happened:
- Roblox Corporation (RBLX) – Q4 Earnings
- Shopify (SHOP) – Q4 Earnings
- Roku (ROKU) – Q4 Earnings
- Hargreaves Lansdown (HL) – H1 2023 Earnings
Next Week
Company Earnings Reports
Here’s a list of the companies I’ll be covering next week (subject to change; may add more):
- The Home Depot (HD) – 21st February
- Walmart (WMT) – 21st February
- Coinbase (COIN) – 21st February
- Lloyds Banking Group (LLOY) – 22nd February
- Nvidia (NVDA) – 22nd February
- eBay (EBAY) – 22nd February
- Etsy (ETSY) – 22nd February
- BAE Systems (BA) – 23rd February
- Block (SQ) – 23rd February
- Intuit (INTU) – 23rd February
- Moderna (MRNA) – 23rd February
NOTE: the US stock market will be closed on Monday 20th February, so it’ll only be a 4-day market week in that regard. As such, it should be a reasonably quiet week for stocks; outside of earnings, that is.
Let me know your thoughts on this week’s events, in the comments below!
