What Happened Last Week

The S&P 500 Index gained 1.47 percent, the Nasdaq Composite Index gained 2.58 percent, and the Dow Jones Industrial Average gained 0.55 percent.^1,2

The Fed Is in “No Hurry” according to jerome powell

Stocks opened the week higher, quickly discounting news that the White House would impose 25 percent tariffs on all steel and aluminum imports. Tuesday was a volatile session, punctuated by comments from Fed Chair Powell, who told lawmakers the central bank doesn’t “need to be in a hurry” to lower interior rates further.^3,4

Wednesday's trading started out in the red after a warmer-than-expected update on consumer prices. But markets showed some resilience and rallied throughout the day. The Nasdaq managed to claw back its losses before the day's close.⁵

On Thursday, the White House announced a plan for reciprocal tariffs (levies on goods imported into the U.S. from countries that impose tariffs on U.S.-exported goods). But markets rallied on news that the administration would pause tariffs until they determine how much to levy on each country. Stocks took a breather on Friday, shrugging off a weaker-than-expected retail sales report.

The S&P ended shy of a record close, and the Nasdaq finished the week above the 20,000 mark.⁶

January Inflation Numbers 

The Consumer Price Index report showed prices rose by 0.5 percent in January, which was slightly higher than expected. Shelter costs remained elevated, increasing 0.4 percent for the month.

Core CPI, which excludes volatile food and energy prices, was also above forecast. Food prices rose 0.4 percent, pushed by a 15.2 percent increase in egg prices related to ongoing issues forcing farmers to cull chicken flocks. Energy prices picked up 1.1 percent as gasoline prices rose.^7,8

Economic Data To Watch

Tuesday:  Homebuilder Confidence Index. San Francisco Fed President Mary Daly speaks.

Wednesday:  Housing Starts & Building Permits. Minutes from January Fed meeting.

Thursday:  Weekly Jobless Claims. Leading Economic Indicators. Fed Officials Austan Goolsbee and Alberto Musalem speak.

Friday:  Existing Home Sales. Consumer Sentiment.

^{Source: Investors Business Daily - Econoday economic calendar; February 14, 2025
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.}

Upcoming Earnings Reports

Tuesday:  Arista Networks, Inc. (ANET), Medtronic (MDT)

Wednesday:  Analog Devices, Inc. (ADI)

Thursday:  Walmart Inc. (WMT), Booking Holdings Inc. (BKNG), The Southern Company (SO)

^{Source: Zacks, February 14, 2025. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.}

Footnotes and Sources

^{1. The Wall Street Journal, February 14, 2025}

^{2. Investing.com, February 14, 2025}

^{3. MarketWatch.com, February 10, 2025}

^{4. CNBC.com, February 11, 2025}

^{5. The Wall Street Journal, February 12, 2025}

^{6. CNBC.com, February 14, 2025}

^{7. The Wall Street Journal, February 12, 2025}

^{8. MarketWatch.com, February 10, 2025} 

^{Source: YCharts.com, February 15, 2025. Weekly performance is measured from Monday, February 10, to Friday, February 14. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.}