Next week will bring an array of important business events and economic indicators that are anticipated to influence market sentiments.

On Tuesday, the Conference Board is set to release its latest report on consumer confidence.
Analysts predict a further decline in consumer confidence for February. This index evaluates how Americans perceive the current economic landscape and their expectations for the next half year. Remarkably, consumer confidence has remained relatively robust alongside consumer spending, despite ongoing pressures from inflation.

The anticipated consumer confidence figures for the previous months are as follows:

– September: 99.2

– October: 109.6

– November: 112.8

– December: 109.5

– January: 104.1

– February (estimate): 102.6

These statistics are based on data compiled by FactSet.

On Wednesday, the Commerce Department will provide its monthly update on new home sales across the United States.
Economists are expecting a slight dip in sales for January, projecting a seasonally adjusted annual rate of approximately 680,000 homes sold, a slowdown from the previous month’s increase in sales.
The housing market continues to face challenges, with high mortgage rates and a competitive demand, contributing to a tight supply of both newly constructed and existing homes.

Recent new home sales figures (seasonally adjusted annual rate) paint the following picture:

– August: 691,000

– September: 726,000

– October: 615,000

– November: 674,000

– December: 698,000

– January (estimate): 680,000

Again, these data points are sourced from FactSet.

Additionally, on Friday, the Commerce Department is scheduled to publish important consumer inflation data.
Economists are forecasting a slight decrease in inflation rates for January. Notably, the inflation rate had previously cooled to 2.1% in September. This figure is marginally above the Federal Reserve’s target of 2% but has shown an overall upward trend since that time.

The annual percent change in the PCE deflator (seasonally adjusted) for recent months is as follows:

– August: 2.3

– September: 2.1

– October: 2.3

– November: 2.5

– December: 2.6

– January (estimate): 2.5

Those statistics are also credited to FactSet.

This upcoming week is poised to provide valuable insights into consumer sentiment, the housing market, and inflation trends that will be essential for businesses and economic observers alike.