• Another rough week over tariff concerns. Major U.S. stock indexes ended down again on Friday but with fractional declines as opposed to beginning of the week. The imposition of tariffs and subsequent trade negotiations left investors frazzled. The market saw a slight bounce after some tariffs were temporarily rolled back.
• Mixed job data came in. The first jobs report came out on Friday since President Donald Trump’s inauguration. January’s gain of 143,000 jobs was short of analysts’ expectations but there were also positives in the report; initial jobs growth estimates for November and December were revised upward by a combined 100,000 and the unemployment rate slipped from 4.1% to 4.0%. Economists according to FactSet expected 170,000 jobs.
• Consumer sentiment fell. A monthly gauge of U.S. consumer sentiment fell to its lowest level in seven months. February’s preliminary reading from the University of Michigan’s sentiment index fell 3.3 points to 67.8, well below economists’ consensus expectations. 
• Oil prices dropped again. The price of U.S. crude oil fell for the third week in a row to around $71 per barrel on Friday afternoon. This was down from a recent high of about $80 per barrel on January 15th. 
• The Yield fell for the third week out of the past four. Friday’s closing yield was around 4.49%, down from a recent high of 4.80% on January 13th.   
• China's consumer inflation at 5-month high. China's consumer inflation accelerated to its fastest in five months in January while producer price deflation persisted, reflecting mixed consumer spending and weak factory activity.
• Earnings are off to a good start. More than halfway through earnings season, fourth-quarter results have surpassed analysts’ expectations. As of Friday, earnings were expected to rise 16.4% compared with the year-ago quarter, based on S&P 500 companies that have already reported plus projections for those that hadn’t yet released results. Prior to earnings season, analysts had forecast an 11.8% growth rate, according to FactSet.
• Gold hit a record high on Friday. The price of gold set a record high for the second week in a row and traded above the $2,900-per-ounce level for the first time. The metal pulled back slightly to around $2,890 in afternoon trading. 
• All eyes are now on the CPI report this Wednesday. A Consumer Price Index report scheduled for release on Wednesday will show whether a recent trend of slightly hotter-than-expected inflation extended into January. The results may increase the odds for an interest rate cut in May or June.
• Emphasis on Fed Chair Jerome Powell this week. Powell will offer his semiannual testimony to lawmakers on Tuesday and Wednesday, will likely highlight the resilient economy as a key reason central bankers are in no rush to further cut borrowing costs. 

• Tesla (TSLA)
• BigBear.ai Holdings (BBAI)
• Palantir Technologies (PLTR)
• Nvidia (NVDA)
• Rigetti Computing (RGTI)

Biggest Gainers

• Doximity, Inc. (DOCS) +35.99%
• BigBear.ai Holdings (BBAI) +26.88%
• SolarWinds Corp. (SWI) +21.82%
• Affirm Holdings (AFRM) +21.81%
• ESCO Technology (ESE) +19.75%

Biggest Losers

• Bill Holdings, Inc. (BILL) -35.52%
• Newell Brands (NWL) -26.42%
• e.l.f. Beauty, Inc. (ELF) -19.62%
• Neurocrine Biosciences (NBIX) -18.53%
• Skechers USA (SKX) -12.68%

Weekly Notables

Elon Musk Won't Buy TikTok

Elon Musk reveals that he is not interested in buying TikTok, the popular social video app the US. “I have not put in a bid for TikTok,” Musk said, joining the conference remotely via video, which was made public by the Die Welt newspaper on Saturday. “I don’t have any plans for what would I do if I had TikTok.” President Trump has signed an executive order that temporarily halted a forced sale or shutdown of TikTok, giving the company and its Chinese parent more time to reach a deal.

Will the Superbowl Outcome Affect the Market Next Week?

It was in 1929 that the Philadelphia Athletics won the World Series. It was the same year the market tanked. Then in 2018, the Eagles won their first Super Bowl. It too was the worst year for stocks since 2008. “Who should you root for? Personally, I can’t stand either team, but I guess I’ll just say when Philly wins a Super Bowl or World Series really bad things tend to happen,” Carson Group chief market strategist Ryan Detrick wrote in a post.

The Week Ahead

• Potential market moving catalysts this week: There are no major reports scheduled for Monday or Tuesday. Wednesday the CPI report will be out as well as the Federal budget. On Thursday the Producer Price Index will be revealed as well as weekly unemployment claims. To end the week investors can look forward to retail sales from the U.S. Census Bureau on Friday and business inventories. The U.S Federal Reserve will also release industrial production and capacity utilization. 
• Earnings on deck this week: McDonald's Corp. (MCD), Rockwell Automation Inc. (ROK), ON Semiconductor Corp. (ON), Monday.com Ltd. (MNDY), Vertex Pharmaceuticals (VRTX), Astera Labs (ALAB), Vornado Realty Trust (VNO), Coca-Cola Co. (KO), S&P Global Inc. (SPGI), Shopify Inc. (SHOP), Marriott International Inc. (MAR), Humana Inc. (HUM), Gilead Sciences (GILD), DoorDash Inc. (DASH), CME Group Inc. (CME), CVS Health Corp. (CVS), Dominion Energy Inc. (D), Vertiv Holdings (VRT), AppLovin Corp. (APP), Equinix Inc. (EQIX), Trade Desk Inc. (TTD), Robinhood Markets Inc. (HOOD), HubSpot Inc. (HUBS), Reddit Inc. (RDDT), Deere & Co. (DE), Moody's Corp. (MCO), Duke Energy Corp. (DUK), Applied Materials Inc. (AMAT), Airbnb Inc. (ABNB), Palo Alto Networks (PANW), Coinbase Global Inc. (COIN), Enbridge Inc. (ENB), TC Energy Corp. (TRP), Agnico Eagle Mines Ltd. (AEM), Fortis Inc. (FTS), Moderna Inc. (MRNA).