Walmart is set to report its earnings on Thursday. Investors are keen to see if the retail giant can continue its strong performance after its previous quarterly report, which exceeded analyst expectations for both revenue and earnings. Walmart’s e-commerce revenue increased by 27%, and its advertising revenue rose by 28%.
Chinese e-commerce giant Alibaba will also report its quarterly financial results. The market will be watching closely, as Alibaba’s previous sales results fell short of expectations. U.S.-traded Chinese internet search firm Baidu is expected to report on Tuesday.
Other notable earnings reports this week include Carvana, the online used-car retailer, and Rivian, the electric vehicle manufacturer. The Federal Reserve will release the minutes from its January meeting on Wednesday. These minutes will provide insight into the central bank’s decision to keep interest rates unchanged and might offer clues about future rate trends.
Walmart earnings take center stage
Several Federal Reserve officials are slated to deliver remarks this week, including Philadelphia Fed President Patrick Harker, San Francisco Fed President Mary Daly, Chicago Fed President Austan Goolsbee, and St. Louis Fed President Alberto Musalem.
Housing market data points are also expected, with existing home sales data for January and the homebuilder confidence index set for release. These indicators will help assess the health of the residential construction industry, which has been showing signs of slowing due to higher interest rates. On Friday, the final survey for February’s consumer sentiment will be released.
Earlier this month, inflation concerns significantly impacted consumer confidence. Additionally, preliminary Purchasing Managers’ Index (PMI) results for February and weekly jobless claims data will be significant indicators of economic activity. Investors have a busy week ahead, with crucial corporate earnings reports, Federal Reserve insights, and key economic data releases.
Though markets are closed on Monday, the rest of the week will be packed with information that could influence market trajectories.
