Navigating A Week of Central-Bank Meetings & Corporate Earnings: Yield on 10-Year U.S. Treasury Note & S&P500 Earnings In Focus

This week investors are carefully navigating a week of central-bank meetings and corporate earnings. The yield on the benchmark 10-year U.S. Treasury note ticked up to 3.551% Monday morning after ending a three-week losing skid last week.[0] The 10-year yield climbed 7 basis points to 3.56%, while the 2-year yield rose 3 basis points to 4.16%.[1] The U.S. dollar index ticked up 0.06% to $101.99.[2]

On the economic front, the Commerce Department’s personal-consumption-expenditures price index rose 0.1%, cooling the annual inflation rate to 5% from 5.5%.[3] The core Personal Consumption Expenditures (PCE) prices, not including food and energy, increased by 0.3%, causing the yearly core inflation rate to drop to 4.4% from 4.7[3] The Bureau of Economic Analysis reported that fourth quarter GDP grew at a 2.9% annual rate, topping views, but almost half that gain was due to a buildup in inventories amid slower consumption.[4] In December, personal spending decreased by 0.2%, marking the second consecutive month of a decrease, as consumers became more wary.[4]

Meanwhile, collective S&P 500 earnings are expected to fall 2.9% from last year to a share-weighted $443.4 billion, before recording a modest 0.1% expansion over the three months ending in March. To date, 143 companies have reported their earnings for the S&P 500, and the collective total is expected to be $443.6 billion, which is a 2.9% decrease from last year.

At the start of the trading day on Wall Street, futures tied to the the S&P 500 are priced for a 29 point opening bell decline while those linked to the Dow Jones Industrial Average are set for a 180 point decline.[5] The Nasdaq, which has a focus on technology, was down 120 points.[6]

Intel (INTC) stock plunged 6.4% today after the chipmaker said fourth-quarter earnings fell 92% year-over-year to 10 cents per share, well below the 20 cents per share analysts were expecting.[7] Revenue fell to $14.0 billion, representing a decrease of 32% from the same period last year, and was lower than expectations.[8] For Q1, the company projected earnings and revenue to be lower than expected.[8]

0. “Stocks Close Higher, With Earnings and Economic Data in Focus” The Wall Street Journal, 26 Jan. 2023,

1. “Nasdaq pops on Tesla bump; S&P, Dow pare back gains after positive GDP data” Seeking Alpha, 26 Jan. 2023,

2. “Stock market news live updates: Stocks fall to start blockbuster week” Yahoo News, 30 Jan. 2023,

3. “U.S. stocks open mostly lower as investors digest PCE inflation data” MarketWatch, 27 Jan. 2023,

4. “Market Rally Powers Higher Amid Big Earnings: Weekly Review” Investor’s Business Daily, 27 Jan. 2023,

5. “Stock Market Today: Stocks Lower Ahead of Fed, ‘Tech Super Bowl’, And Jobs Data Week”, 30 Jan. 2023,

6. “Stocks Move Lower, Microsoft, Tesla, Boeing, Fox In Focus – Five Things To Know” TheStreet, 25 Jan. 2023,

7. “Stocks Close Higher as Price Pressures and Inflation Expectations Ease” Barchart, 27 Jan. 2023,

8. “Stock Market Today: Stocks End the Week on a High Note” Kiplinger’s Personal Finance, 27 Jan. 2023,