A look at some of the key business events and economic indicators upcoming this week:
EYE ON CONSUMERS
The Conference Board issues its latest index of consumer confidence on Tuesday.
Economists expect this month's index will show a reading of 132.5. That would be the highest reading since August. Continued strength in the job market and low unemployment has helped keep the index elevated. A reading of 90 or better reflects a healthy economy.
Consumer confidence, by month:
Sept. 126.3
Oct. 126.1
Nov. 126.8
Dec. 128.2
Jan. 131.6
Feb. (est.) 132.5
Source: FactSet
HOME SWEET HOME
Lower mortgage rates helped boost sales of new homes in 2019 after a weak start to the year.
All told, sales of newly built U.S. homes climbed 10.3% last year to 681,000. That's the highest total since 2007, when the housing bubble was beginning to deflate ahead of the Great Recession. Did the trend continue this year? Find out Wednesday, when the Commerce Department serves up its January tally of new home sales.
New home sales, seasonally adjusted annual rate, by month:
Aug. 708,000
Sept. 725,000
Oct. 705,000
Nov. 697,000
Dec. 694,000
Jan. (est.) 710,000
Source: FactSet
STRONG FINISH?
Wall Street expects that Best Buy closed out its last fiscal year with another solid quarter.
Analysts predict the consumer electronics retailer will report Thursday that its fiscal fourth-quarter earnings and revenue increased from a year earlier. That would echo the company's results in the previous three quarters. Investors will be listening for an update on Best Buy's profit expectations for the current quarter.
Companies Mentioned in This Article
12 Marijuana Stocks to Buy Now
There are now more than 50 publicly-traded companies operating in the cannabis industry. Most of these companies aren't directly growing and selling marijuana themselves, but they do stand to benefit greatly as more states legalize the sale and possession of marijuana. Some of these marijuana stocks are media companies. Others are privately studying the medical uses of marijuana. Yet others are providing tools and software for marijuana growers. As more cannabis companies file IPOs and enter the stock market, it will become increasingly difficult for investors to identify which marijuana stocks will truly benefit from the cannabis boom.
Our subscribers have begun digging through these companies, checking out their financials, business models and long-term growth prospects. They know that some "marijuana stocks" are just empty shell companies that deserve to be penny stocks, but they also recognize there are some legitimate and growing companies that truly stand to benefit from the green rush. As a group, they have added 10 different cannabis stocks to their watchlists and are actively investing in them. More than 1,400 MarketBeat subscribers are now following our top-trending cannabis company.
This slide show lists the 12 pot stocks that MarketBeat subscribers are have added to their watchlists and are actively monitoring.
View the "12 Marijuana Stocks to Buy Now".
