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Market Update

Making Sense: In Brief

Phillip Neuhart, Director of Market and Economic Research, brings you a brief overview of what's coming in the week ahead for markets and the economy.

Making Sense: In Brief video

Making Sense: In Brief

The week ahead for markets and the economy

Phil: Last week, markets digested a 25-basis-point Fed hike, along with a much stronger than expected employment report—all amid earnings season. Looking to the week ahead, it's not as event driven as last week, but still important.

On Friday, February's University of Michigan Consumer Sentiment Index is released. Since bottoming last June, sentiment has improved modestly but remains well below the 2021 level. In Friday's report, consensus expects sentiment to hold fairly steady. The report also contains details of consumer inflation expectations at both 1 year ahead and 5 to 10 year ahead in the future. Both have fallen notably since peaking last year. We hope to see this trend continue in Friday's report.

Moving on, weekly initial jobless claims is a measure we don't often have time to highlight, but it is important. The data comes out each Thursday morning. Jobless claims have trended lower in recent months and currently stand near the lows we saw prior to the pandemic. The low level of claims is one more indicator of the resiliency of the labor market, despite a slowing economy.

As we have highlighted in recent weeks, fourth quarter earnings season continues. Earnings season has been mixed. Seventy percent have beaten earnings expectations—a lower level than in recent quarters. Also, downward earnings revisions persist.

So items to watch this week. One, consumer sentiment. Two, initial jobless claims. Three, earnings season.

Making Sense In Brief Outro Slide

Brent Ciliano

CFA | SVP, Chief Investment Officer

Capital Management Group | First Citizens Bank

8510 Colonnade Center Drive | Raleigh, NC 27615

brent.ciliano@firstcitizens.com | 919-716-2650

Phillip Neuhart SVP, Director of Market and Economic Research

Capital Management Group | First Citizens Bank

8510 Colonnade Center Drive | Raleigh, NC 27615

phillip.neuhart@firstcitizens.com | 919-716-2403

Disclosures

The views expressed are those of the author(s) at the time of writing and are subject to change without notice. First Citizens does not assume any liability for losses that may result from the information in this piece. This is intended for general educational and informational purposes only and should not be viewed as investment advice or recommendation for a security, investment product or personal investment advice.

Your investments in securities, annuities and insurance are not insured by the FDIC or any other federal government agency and may lose value. They are not a deposit or other obligation of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amount invested. Past performance does not guarantee future results.

First Citizens Wealth Management is a registered trademark of First Citizens BancShares, Inc. First Citizens Wealth Management products and services are offered by First-Citizens Bank & Trust Company, Member FDIC; First Citizens Investor Services, Inc., Member FINRA and SIPC an SEC-registered broker-dealer and investment advisor; and First Citizens Asset Management, Inc., an SEC-registered investment advisor.

Brokerage and investment advisory services are offered through First Citizens Investor Services, Inc., Member FINRA and SIPC. First Citizens Asset Management, Inc. provides investment advisory services.

Bank deposit products are offered by First Citizens Bank, Member FDIC.

See more about First Citizens Investor Services, Inc. and our investment professionals at FINRA BrokerCheck.

Webinar Series

Making Sense: A Market Update

Join Brent Ciliano, First Citizens Chief Investment Officer, and Phillip Neuhart, First Citizens Director of Market and Economic Research, as they discuss what's going on in the markets and the economy.

February Highlights

Date: Wednesday, February 22

Time: 12 pm ET

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January Highlights Replay

View a replay of the January 25 webinar.

Watch a replay of the November 17 Making Sense webinar
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Your investments in securities, annuities and insurance are not insured by the FDIC or any other federal government agency and may lose value. They are not a deposit or other obligation of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amount invested. Past performance does not guarantee future results.

First Citizens Wealth Management is a registered trademark of First Citizens BancShares, Inc. First Citizens Wealth Management products and services are offered by First-Citizens Bank & Trust Company, Member FDIC, Equal Housing Lender; First Citizens Investor Services, Inc., Member FINRA and SIPC, an SEC-registered broker-dealer and investment advisor; and First Citizens Asset Management, Inc., an SEC-registered investment advisor.

Brokerage and investment advisory services are offered through First Citizens Investor Services, Inc., Member FINRA and SIPC. First Citizens Asset Management, Inc. provides investment advisory services.

Bank deposit products are offered by First Citizens Bank, Member FDIC.

See more about First Citizens Investor Services, Inc. and our investment professionals at FINRA BrokerCheck.