Markets Week Ahead: Coles earnings in focus, Buffett delivers annual remarks, inflation data on the way
Rene Anthony
Key takeaways:
While earnings releases will likely occupy the attention of retail shareholders, economists are sure to be watching Australian and US inflation data
Economic Calendar and News
The latest monthly inflation figure will be published on Wednesday. The YoY reading fell to 3.4% in December, and Trading Economics forecasts a slight increase to 3.5% for January.
Australian retail sales data follows on Thursday. Despite a 2.7% decline in December, Commonwealth Bank predicts a 1.3% rise in January.
CoreLogic will release house price data for February on Friday, highlighting a recent 12 consecutive months of gains despite the RBA’s tightening cycle.
The US core personal consumption expenditure (PCE) Index is due Thursday, US-time. It’s a critical inflation measure for the Federal Reserve, with Deutsche Bank expecting a 0.4% rise in January. Federal Reserve officials are also slated to speak, potentially shedding light on the latest PCE reading.
The Reserve Bank of New Zealand meets for the first time in 2024, with ANZ suggesting interest rate hikes could resume.
Shares on Watch
Local supermarket giant Coles (ASX: COL) reports on Tuesday amid an ACCC inquiry into supermarket pricing. Goldman Sachs anticipates a 9.2% EBIT decline despite a projected 6.6% sales increase. Earnings from Woodside (ASX: WDS) on Tuesday will be one of the last of the season.
Over the weekend, Warren Buffett released his annual shareholder letter as Berkshire Hathaway (NYSE: BRK.B) posted its earnings, revealing a record cash pile and full-year net earnings of US$96.2 billion. Buffett’s letter is available here.
After Nvidia (NASDAQ: NVDA) showcased record-breaking growth amid rising AI demand, this week earnings from AI-related tech firms like Workday (NASDAQ: WDAY), Salesforce (NYSE: CRM), Dell (NYSE: DELL), and Snowflake (NYSE: SNOW) will be closely watched.
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