In the holiday-shortened week ahead, investors on Wall Street will get significant economic data to assess. The US stock markets will remain closed on Monday, February 16, to mark Presidents’ Day (officially Washington’s Birthday).

Among the economic indicators, the traders will closely watch the FOMC minutes of the last Federal Reserve meeting, preliminary Q4 GDP numbers, personal income and spending data, and PCE (Personal Consumption Expenditures) index — the Fed’s preferred inflation gauge.

On the earnings front, WalmartAlibaba and Palo Alto Networks are among the major companies to report fourth quarter results.

US Economic Calendar

On February 16 (Monday) None scheduled, President’s Day holiday

On February 17 (Tuesday), separate data on Empire State manufacturing survey for February and Home Builder Confidence Index for February will be declared.

On February 18 (Wednesday), separate reports on housing starts (delayed) for November and December, building permits (delayed) for November and December, durable-goods orders (delayed) for December, and industrial production for January will be released.

Minutes of the Federal Reserve’s January FOMC meeting will also be released.

On February 19 (Thursday), separate reports on initial jobless claims for the week ended February 14, US trade deficit for December, Philadelphia Fed manufacturing survey for February, and leading economic index for December will be released.

On February 20 (Friday), separate data on gross domestic product (GDP) for the fourth quarter (Q4), personal income and spending for December, PCE index for December, S&P flash US services and manufacturing PMIs for February, new home sales (delayed) for November and December, and consumer sentiment (prelim) for February will be released.

Q4 Earnings

Following companies are due to report fourth quarter results in the week ahead — Palo Alto Networks, Medtronic, DoorDash, Occidental, Walmart, and Alibaba.

US Stock Market Last Week

US stock indices were steady on Friday after an encouraging data on consumer inflation helped calm a Wall Street that’s been wracked by worries about how AI may upend the business world.

On Friday, the S&P 500 rose 3.41 points, less than 0.1%, to 6,836.17. The Dow Jones Industrial Average rose 48.95 points, or 0.1%, to 49,500.93. The Nasdaq composite fell 50.48 points, or 0.2%, to 22,546.67.

The Russell 2000 index of smaller companies rose 30.87 points, or 1.2%, to 2,646.70.

For the week, the S&P 500 is down 96.13 points, or 1.4%. The Dow is down 614.74 points, or 1.2%. The Nasdaq is down 484.54 points, or 2.1%.

Gold reclaimed $5,000 mark on Friday as traders raised bets on Federal Reserve rate cuts after a tame inflation reading. Spot gold surged 2.2% to $5,031.52 an ounce as of 4:31 p.m. in New York.

Silver rose 2.5% to $77.16 an ounce.