1. Record run
Here is the most important news investors need to start their trading day:
He S&P 500 closed above 5,000 on Friday for the first time as US stocks continued their steady climb. The SP, Dow Jones Industrial Average and Nasdaq All have increased for five consecutive weeks. A series of results and a handful of key economic data will help determine whether stocks hit more records this week. Consumer Price Index inflation data due on Tuesday will help chart the path of the Federal Reserve’s interest rate policy. January retail sales figures due on Thursday will also offer another indicator of consumer health. Follow live market updates here.
2. Back to back
The Kansas City Chiefs won their second straight Super Bowl on Sunday and third in the last five years. They defeated the San Francisco 49ers 25-22 in just the second NFL championship game to go to overtime. As always, advertisers competed for the spotlight. They included pillars such as Budweiser and PepsiCoalong with newer faces like DoorDash. microsoft promoted AI, while Kia unveiled a new electric vehicle. Meanwhile, Beyoncé wore a Verizon announcement to announce that he will be releasing a new album at the end of March.
3. Aid advances
The Senate on Sunday introduced a long-stalled bill that includes $95 billion in aid to Ukraine, Israel and Taiwan. The measure advanced with 67 votes and could be approved in the coming days. A broader version of the plan, which included border security measures that Republicans opposed, previously failed. President Joe Biden and many Democrats and Republicans in Congress have been trying to send new aid to Ukraine for months as the Russian invasion approaches two years, but many in the Republican Party have opposed the funding. Meanwhile, some members of Senate Majority Leader Chuck Schumer’s Democratic Party have spoken out against new military funding for Israel, while Gaza health authorities say the war there has caused more than 28,000 deaths.
4. Earning Euphoria
About two thirds of S&P 500 The companies have reported fourth-quarter earnings and the strong numbers so far have helped boost stocks. Companies during the period achieved better profits without as much revenue growth. Through Friday, S&P 500 companies’ earnings had risen 9% for the quarter, while revenue had risen 3.4%. Companies reporting results this week, many of which operate in the food and beverage or sharing economy spaces, will offer some commentary on consumer health. Here are the earnings to watch this week:
5. Elon the stand
A judge ordered Elon Musk to testify in a Securities and Exchange Commission investigation into his acquisition of Twitter, the social platform now known as X, in 2022. The agency is investigating whether anyone committed securities fraud like tesla and SpaceX’s CEO built up a stake in the company before its roughly $44 billion leveraged buyout. Musk and the SEC have one week to set a date and time for testimony, according to Saturday’s order. Musk’s lawyers have called the investigation baseless.
– CNBC’s Lisa Kailai Han, Sarah Whitten, Sara Salinas, Jake Piazza, Rebecca Picciotto, Robert Hum and Lora Kolodny contributed to this report.
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