Dear readers,
We are pleased to report that U.S. stocks are expected to open higher today, following an announcement from federal banking regulators regarding SVB Financial. Depositers of SVB Financial (SIVB) will be able to access all their money on Monday, without any loss to taxpayers. This development has helped to calm concerns after the sudden collapse of SVB on Friday. Additionally, regulators have closed New York-based Signature Bank and have ensured that depositors will have access to all of their money.
Looking ahead, there are a number of notable earnings reports and economic events scheduled for this week.
On Tuesday, the Labor Department will release its consumer price index for February, and the National Federation of Independent Business will release its Small Business Optimism Index for February.
Wednesday will see the Commerce Department release February retail sales figures covering spending at stores, online, and at restaurants. Also on Wednesday, the Bureau of Labor Statistics will release the producer price index for February, a measure of the prices suppliers charge businesses. The National Association of Home Builders will also release its Housing Market Index for March on Wednesday.
Thursday will bring further economic data, with the Commerce Department releasing figures on new residential construction and building permits for February. The Labor Department will also report the number of worker filings for unemployment benefits in the week ended March 11. Notable earnings reports on Thursday include Dollar General, FedEx, Signet Jewelers, and Williams-Sonoma.
Finally, on Friday, the Federal Reserve will release February industrial-production figures, which measure the output of factories, mining, and utilities. The University of Michigan will also release its preliminary reading of consumer sentiment for March.
Against this backdrop, futures are rising ahead of the Labor Department's highly anticipated consumer price index and producer price index reports. At 6:32 p.m. Eastern Daylight Time on Sunday, Dow Jones Industrial Average futures were up 306 points, or 0.9%, while the S&P 500 futures gained 1.4%, and Nasdaq Composite futures gained 1.4%.
We hope that this information is useful for our readers as they consider their investment strategies in the week ahead.