Calendar for the week
The main stock market event this week will be the inflation report for January. However, economists are forecasting a new record of 7.2%.
The report on Friday 4 February on the US labour market growth in January 2022 beat economists' estimates, Luke Tilley, chief economist at Wilmington Trust, believes that inflation will peak in February and start to decline in the following months.
Reports on Monday
Also, the Federal Reserve will release consumer credit data for December.
The National Federation of Independent Business (NFIB) will publish a small business optimism index for January. The forecast estimate is 98, which is slightly lower than the figure for December.
The Bureau of Economic Analysis will release international trade data: exports and imports and the trade balance for December.
Data will be released on wholesale sales in December, as well as inventory levels at wholesale warehouses.
The Bureau of Labor Statistics reports the consumer price index (inflation rate) for January.
The Labor Department reports initial claims for unemployment benefits for the week ending February 5.
The monthly US federal budget execution report for January.
The University of Michigan will release a consumer sentiment survey for February.