Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on February 10, 2023 in New York City.
Michael M. Santiago | Getty Images
Here are the most important news investors need to start their trading day:
1. Wake up, it’s Monday
The bulls are hoping that this week is better than last. Friday’s closing bell put an end to the roughly five-day time frame for both the S&P 500, which slid more than 1.1%, and the Nasdaq, which slid more than 2.4%. While stocks have started the year relatively well, there are a few realities that keep things in check. Inflation has come down, but it is still very high. The Federal Reserve has identified light at the end of the tunnel, but it is still prepared to raise rates to slow the rise in prices. And while the economy has been resilient, there are still areas where a slowdown is a concern. Read live market updates.
2. Another Week of Earnings
Men load Coca-Cola trucks outside the New York Stock Exchange (NYSE) on July 25, 2022 in New York City.
Spencer Platt | Getty Images
Talking about the factors weighing on the shares, earnings this quarter haven’t been so great. The outlook for companies has also not been buoyant, though some of them see the skies clearing up in the second half of the year. Coca-Cola and Cisco lead the pack this week. Here are the major names reported:
- Tuesday: Coca-Cola, Restaurant Brands (before Bell); Airbnb (after the bell)
- Wednesday: Kraft Heinz, Roblox (before the bell); Cisco, Zillow, Shopify, Boston Beer, Roku, QuantumScape (after the bell)
- Thursday: Hasbro, Paramount Global (before the bell); DraftKings, DoorDash, Dropbox (After the Bell)
3. A Classic Super Bowl
Rihanna performs on stage during the Apple Music Super Bowl LVII Halftime Show at State Farm Stadium on February 12, 2023 in Glendale, Arizona.
Ezra Shaw | Getty Images Sport | Getty Images
This year’s Super Bowl had everything. Rihanna revealed she was pregnant during her stunning halftime performance. Celebrities dominated what turned out to be a really fun slate of commercials (though they didn’t do crypto this time for some reason). Media critic and Twitter CEO Elon Musk is seen sitting with Rupert Murdoch of News Corp and Fox. And the game was great too. After an incredible Jalen Hurts led Philadelphia Eagles to a 24–14 halftime lead, the Kansas City Chiefs and their MVP quarterback, Patrick Mahomes executed a near-flawless gameplan in the second half to win 38–35. It was the Chiefs’ second Super Bowl win in four years.
4. Explaining the Housing Market
MonkeyBusiness Images | Getty
It can be tough to keep up with all the ups and downs and sideways moves in the housing market. What’s up with house prices these days anyway? CNBC’s Diana Olick breaks it down. While price increases have been slowing for months, real prices are still higher than they were 12 months ago. With mortgage rates coming down a bit, demand appears to be returning, and that could help prices move up again a bit. “While prices have continued to decline since November, the rate of decline was lower than that seen over the summer and still only a 3% cumulative decline in prices,” said Selma Hepp, chief economist at CoreLogic.
5. Watch the Sky
FBI special agents assigned to the Evidence Response Team process material retrieved from a high altitude balloon recovered off the coast of South Carolina. The material was processed and taken to the FBI Laboratory in Quantico, VA.
What’s with all the close encounters in North American airspace lately? Things from another world? Almost certainly not, although a top US military official, when asked whether aliens were involved, said he had not ruled anything out. “I’ll let the intel community and the counterintelligence community figure it out,” said General Glenn VanHerk, commander of the North American Aerospace Defense Command and US Northern Command. The wild speculation came as US jets shot down more objects from North American skies over the weekend, days after they shot down a Chinese spy balloon that floated over the United States. More recent objects are not as large as Chinese balloons, and it is not clear where they may have come from. And the MLA is demanding answers. The truth is probably out there.
— CNBC’s Hakyung Kim, Lillian Rizzo, Sarah Whitten, Diana Olick and Ashley Capute contributed to this report.
, Follow broad market action like a pro cnbc pro,