5 Minutes ago
All eyes on Tuesday’s consumer price index data
Investors will be watching for closely followed consumer price index data due on Tuesday morning.
January data for the index, which measures the pace of inflation by tracking changes in prices within a broad basket of goods, is due at 8:30 am.
- The CPI will increase by 0.4% compared to the previous month and 6.2% higher than the same month last year.
- The so-called “core” CPI, which excludes food and energy, rose 0.3% month-on-month and was 5.5% higher than the same month a year ago.
Based on expectations, the report may deliver some bad news. CNBC Pro subscribers can read more about how some market watchers think stocks will move based on the latest data.
Beyond the CPI, investors will also be looking at the latest bath in corporate earnings from consumer-focused names like Coca-Cola and Airbnb. CNBC Pro subscribers can see what to expect throughout the week here.
— Alex Harring
23 Minutes ago
General Motors is looking ahead of Ford, says Steve Grasso
Steve Grasso, CEO of Grasso Global, said he has a bigger view of General Motors than Ford.
“On the stock front, GM outperformed Ford. The stocks look similar, but GM has definitely broken out recently, from their declining trendline,” Grasso said on CNBC’s “Fast Money.”
Ford announced Monday that it will partner with Contemporary Amperex Technology, known as CATL, on a new $3.5 billion battery plant for electric vehicles in Michigan.
Still, Grasso believes GM is still the better choice in the EV race — with one company ahead of the two.
“The chart looks better for me in GM – on a year-over-year basis, the stock has outperformed Ford. I think it’s better than Ford,” said Grasso. “I like their size and scale when it comes to their EV partnerships.”
“Tesla is still king of the hill. There are other companies chasing them,” he added. “But in that pursuit, I prefer GM to Ford.”
— Hakyung Kim
41 Minutes ago
Stocks make the most moves after hours
These are some of the stocks that made the biggest moves in extended trading:
- Avis – The car rental company gained 3.5% after beating top- and bottom-line estimates from analysts polled by Refinitiv. The company said it had strong demand that continued so far in the current quarter.
- Palantir – Shares jumped 18% on the back of quarterly results that came in ahead of analysts’ expectations, according to Refinitiv. This was also the first quarter that Palantir posted positive net income on a GAAP basis.
- Arista Networks – The cloud stock rose less than 1% after reporting earnings and revenue that came in ahead of consensus estimates set by analysts surveyed by Refinitiv. The company also provided guidance for current quarter earnings that exceeded expectations.
See the full list here.
— Alex Harring
56 Minutes ago
Stock futures opened near the plateau
Stock futures were little changed Monday night.
Futures tied to the Dow, S&P 500 and Nasdaq-100 all opened near their respective flatlines as investors awaited the latest consumer price index data.
— Alex Harring
