This week feels like one of those quiet but important ones where small updates can slowly change the mood of the whole market. Monday already started slow with US markets closed for Presidents' Day, so everything feels like it’s waiting to really begin from midweek.
For me, Wednesday stands out the most. Durable Goods data and the Fed Meeting Minutes coming out on the same day usually makes people pay closer attention. The minutes especially… they often reveal what’s really going on inside the Fed’s thinking. Even a small change in tone can shift how investors feel.
Then Friday brings the PCE inflation data, and that always carries weight. Inflation numbers tend to sit in the background all week, and when they finally drop, the reaction can be quick. People watch that closely because it connects directly to interest rate expectations.
At the same time, there’s a lot happening in between. Around 10 Fed speakers talking through the week means the market will keep listening for clues. On top of that, about 15% of S&P 500 companies reporting earnings adds another layer. It’s not one big event, it’s many small moments building together.
If I had to feel which one might move things the most, it would probably be Friday’s PCE data. Inflation still feels like the center of everything right now. But honestly, the overall mood may be shaped by the combination of all these updates, slowly stacking up day by day.