Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on February 10, 2023 in New York City.
Michael M Santiago | Getty Images
Here is the key news investors need to start their trading day:
1. Wake up, it’s Monday
The Bulls are hoping this week will be better than last. Friday’s closing bell ended a rough five-day frame for both the S&P 500, which slipped over 1.1%, and the Nasdaq, which slipped more than 2.4%. While stocks have started the year relatively well, there are certain realities that are keeping things in check. Inflation has come down but is still high. The Federal Reserve has seen the light at the end of the tunnel but is still poised to raise interest rates further to slow inflation. And while the economy has been resilient, there are still areas where slowdowns are a cause for concern. Read live market updates.
2. Another week of big earnings
Men load a Coca-Cola truck in front of the New York Stock Exchange (NYSE) on July 25, 2022 in New York City.
Spencer Platt | Getty Images
Speaking of factors weighing on stocks, earnings haven’t been all that good this quarter. The outlook for companies has also not been good, although some expect the skies to clear up in the second half of the year. Coke And Cisco leading the pack this week. Here are the big names reporting:
- Tuesday: Coke, restaurant brands (in front of the bell); Airbnb (after the bell)
- Wednesday: Kraft Heinz, Roblox (in front of the bell); Cisco, Zilov, Shopify, Boston beer, Year, QuantumScape (after the bell)
- Thursday: Hasbro, Paramount Global (in front of the bell); DraftKings, DoorDash, Drop box (after the bell)
3. A classic Super Bowl
Rihanna performs onstage during the Apple Music Super Bowl LVII Halftime Show at State Farm Stadium on February 12, 2023 in Glendale, Arizona.
Ezra Shaw | Getty Images Sports | Getty Images
This year’s Super Bowl had it all. Rihanna revealed she was pregnant during her stunning halftime performance. Celebrities dominated what turned out to be a really fun series of commercials (though for some reason they weren’t peddling crypto this time). Media critic and Twitter CEO Elon Musk was spotted sitting with News Corp and Fox honcho Rupert Murdoch. And the game was great too. After the Philadelphia Eagles, led by an incredible Jalen Hurts, took a 24-14 halftime lead, the Kansas City Chiefs and their MVP quarterback Patrick Mahomes executed a nearly flawless game plan in the second half to win 38-35 . It’s the Chiefs’ second Super Bowl win in four years.
4. Explain the housing market
monkeybusinessimages | Getty
It can be difficult to keep up with all the ups, downs and sideways movements in the real estate market. What is going on with real estate prices these days? CNBC’s Diana Olick breaks it down. While price increases have been slowing for months, actual prices are still higher than they were 12 months ago. With mortgage rates easing somewhat, demand seems to be returning and that could help push prices back up a bit. “While prices continued to fall from November, the rate of decline was slower than the summer and still adds up to a cumulative price decline of just 3% since last spring’s peak,” said Selma Hepp, CoreLogic’s chief economist.
5. Watch the sky
FBI Special Agents assigned to the Evidence Response Team are processing footage recovered from the High Altitude Balloon recovered off the coast of South Carolina. The footage was processed and shipped to the FBI lab in Quantico, VA.
Courtesy: FBI
What about all the close encounters in North American airspace lately? things from another world? Almost certainly not, although when asked if extraterrestrials were involved, a senior US military said he hadn’t ruled anything out. “I’ll let the intelligence community and the counterintelligence community figure that out,” said Gen. Glen VanHerck, commander of the North American Aerospace Defense Command and US Northern Command. The wild speculation came as US jets shot more objects out of North American skies over the weekend, days after they downed a Chinese spy balloon hovering over much of the United States. The newer objects weren’t as big as the Chinese balloon, and it’s not clear where they might have come from. And the legislature demands answers. The truth is probably out there.
– CNBC’s Hakyung Kim, Lillian Rizzo, Sarah Whitten, Diana Olick and Ashley Capoot contributed to this report.
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