Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on February 01, 2023 in New York City.
Michael M. Santiago | Getty Images
Here are the most important news items that investors need to start their trading day:
1. February heat check
Even with mixed economic signals, worries that the Federal Reserve will keep rates high and a mediocre earnings season, stocks have gotten off to a hot start this year. The S&P 500 is up more than 7% heading into Monday’s open, while the Nasdaq, which performed the worst of the three major indices last year, is on a five-week winning streak. This week, investors are looking forward to a speech from Fed Chairman Jerome Powell on Tuesday before the Economic Club of Washington. After Friday’s blowout jobs number, Powell’s words this week will come under even tighter scrutiny following his remarks last week on “disinflationary” signs in the economy. Read live markets updates.
2. What’s on tap for earnings
It’s another big week for companies as fourth quarter earnings season hits its halfway point. While Big Tech dominated last week, this time there’s a broader mix of companies from various industries. Once again, investors will be keyed in on what companies expect from this year, as the economy contends with high inflation and rising interest rates. Here are the major names reporting this week:
3. ‘Trending to breakeven’
Elon Musk, chief executive officer of Tesla Inc., departs court in San Francisco, California, on Tuesday, Jan. 24, 2023.
Marlena Sloss | Bloomberg | Getty Images
Elon Musk told everyone on Twitter that he’s been through a rough time recently. “Last 3 months were extremely tough, as had to save Twitter from bankruptcy, while fulfilling essential Tesla & SpaceX duties. Wouldn’t wish that pain on anyone,” he said in a tweet thread Sunday. But, according to Musk, the toil has produced some results. He said Twitter, which has gone through large job cuts and a rocky rollout of several initiatives…
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