A look at some of the key business events and economic indicators upcoming this week:
LOOKING FIT
Wall Street expects another standout quarterly report card from Dick’s Sporting Goods.
The retailer has recovered strongly over the past year after reporting a loss for the quarter ended in April. Solid demand for apparel and equipment for home exercising and outdoor fitness amid the pandemic lockdowns have helped drive the company’s earnings and revenue sharply higher since then. Analysts predict more of the same Tuesday, when the retailer serves up its fiscal fourth-quarter results.
INFLATION BELLWETHER
Economists project that prices at the consumer level increased modestly last month.
The Labor Department’s consumer price index, due Wednesday, is expected to show annual inflation picked up in February to 1.8% from 1.4% in January, driven by higher energy prices. Inflation has been a no-show over the past decade, with annual price gains remaining well below the Federal Reserve’s 2% target, allowing the Fed to keep interest rates at record lows.
Consumer price index, annual percent change, not seasonally adjusted:
Sept. 1.4
Oct. 1.2
Nov. 1.2
Dec. 1.4
Jan. 1.4
Feb. (est.) 1.8
Source: FactSet
JOB MARKET MONITOR
The Labor Department issues its latest monthly snapshot of U.S. job openings Thursday.
Economists predict the number of available jobs edged lower in January to around 6.6 million from 6.65 million in December. The number of monthly job postings nationally has yet to return to the pre-pandemic level of at least 7 million, which had been the trend since early 2018. Many areas of the economy, especially restaurants and travel-related industries, continue to struggle due to the pandemic.
JOLTS job openings, in millions, by month:
Aug. 6.35
Sept. 6.49
Oct. 6.63
Nov. 6.57
Dec. 6.65
Jan. (est.) 6.60
Source: FactSet
