Banks, Inflation, Lennar, Adobe, Dollar General, and More for Investors to Watch This Week

Also Tuesday,
Lennar
reports quarterly results. Other earnings reports next week include
Adobe
on Wednesday and
Dollar General
and
FedEx
on Thursday.

On Friday, the University of Michigan releases it consumer sentiment index for March. The forecast calls for a 67.4 reading, about even with February. While that’s low by historical measures, it would be the highest reading in more than a year.

Tuesday 3/14

Lennar reports first-quarter fiscal-2023 results.

Caterpillar,

LyondellBasell Industries,
and
Verisk Analytics
hold investor meetings.

The National Federation of Independent Business releases its Small Business Optimism Index for February. The consensus estimate is for a 91 reading, which would be the 14th consecutive one below the 49-year average of 98. In January, 45% of small-business owners said that job openings were hard to fill, a historically elevated number.

The Bureau of Labor Statistics releases the consumer price index for February. Economists forecast that the CPI will show an increase of 6%, year over year, compared with 6.4% in January. The core CPI, which excludes volatile food and energy prices, is expected to rise 5.5%, one-tenth of a percentage point less than in the previous report. Federal Reserve Chairman Jerome Powell has stressed in recent months that services inflation, excluding the cost of shelter, is what he’d most like to see decelerate.

Wednesday 3/15

The Bureau of Labor Statistics releases the producer price index for February. Economists forecast that the PPI will show an increase of 5.4%, year over year, while the core PPI is expected to be up 5.3%. This compares with gains of 6% and 5.4%, respectively, in January.

Adobe announces first-quarter fiscal-2023 earnings.

The Census Bureau reports retail sales data for February. Consumer spending likely rose 0.2%, month over month, while retail sales, excluding autos, are expected to show an increase of 0.4%. This compares with gains of 3% and 2.3%, respectively, in January. The 3% jump was the largest since March 2021, reflecting the resilience of U.S. consumers. That economic release, along with continued strength in the labor market and other hotter-than-expected-inflation data, have caused Wall Street to reprice the terminal, or peak, federal-funds rate to about 5.6%, from 5% in late January.

The National Association of Home Builders releases its Housing Market Index for March. The consensus call is for a 40 reading, two points lower than in February. While home builders still have a gloomy outlook for the housing market, it has brightened somewhat compared with December, which had the lowest reading for the index in a decade, excluding one data point at the onset of the pandemic.

Thursday 3/16

Dollar General and FedEx hold conference calls to discuss quarterly results.

The Census Bureau reports residential construction statistics for February. Expectations are for a seasonally adjusted annual rate of 1.32 million starts, slightly more than in January.

Friday 3/17

The University of Michigan releases its Consumer Sentiment Index for March. The forecast calls for a 67.4 reading, about even with February. While low historically, it would be the highest reading in more than a year.

Write to Alex Eule at alex.eule@barrons.com