Retailer earnings, economic reports, reviewing last week's markets and more: Monday's 5 things to know

Here are the key events taking place on Monday that could impact trading.

EARNINGS REPORTS: Retailers will feature prominently in the coming week’s earnings announcements.

Investors will pay close attention to results from Walmart, Home Depot and Advance Auto Parts on Tuesday. 

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On Wednesday, Lowe’s, Target and TJX Companies report.

That will be followed by Macy’s, Kohls, Ross Stores and Gap on Thursday and others for clues to how the consumer is holding up amid soaring inflation and rising interest rates. 

Friday, Foot Locker and Buckle Inc. close out the major retailers earnings reports for the week.

More than 90% of the S&P 500 (463 companies) have reported 3Q numbers, and so far, the results are ahead of expectations.

ECONOMY IN FOCUS: A busy week of economic data coming up. 

Beginning Tuesday, the first report on Inflation will be a big focus with the release of the October producer price index.

The Bureau of Labor Statistics is expected to say that PPI rose 0.5% month-over-month according to Refinitiv forecasts, up from a hotter-than-expected print of 0.4% in September. 

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Year-over-year, prices paid by wholesalers are anticipated to jump 8.3%, less than September’s 8.5% pop and the fourth straight month of slowing growth. 

It would also be the lowest reading since July 2021, and along with a cooler-than-expected October CPI report, could strengthen hopes for smaller Fed rate hikes. 

Excluding food and energy costs, core producer prices are anticipated to rise 0.4% monthly in October, slightly above September’s 0.3% gain. 

Year-over-year look for growth in core PPI to hold steady at 7.2% in October, the seventh straight month of flat to slowing growth after a record 9.7% surge in March (data go back to April 2011).

The markets will also pay close attention to the October retail sales report on Wednesday for clues to how consumers are coping with high inflation and rising borrowing costs.

And housing will figure prominently this week, with reports on homebuilder sentiment, housing starts and existing home sales all due.

MARKET WATCH: Stocks and bonds capped a volatile week with the biggest gains in months, boosted by hopes that inflation in the U.S. is cooling. 

Last week in global markets has been one of the wildest of the year. 

Many investors were fixated on the drama between two of the most prominent crypto firms, FTX and Binance, to start the week. That rapidly evolved into a cryptocurrency crisis that threatens to cause losses for investors big and small, with FTX filing for bankruptcy on Friday in a stunning fall for a pillar of the crypto market. 

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Even stock investors were spooked by the news, leading to a market selloff midweek. By Thursday, though, fresh data on inflation – and a glimmer of hope that it's coming down – sent stocks rocketing higher. 

Stocks soared last week. Tech stocks, in particular, have been big beneficiaries of the recent run, stemming some of their large declines from earlier in the year. At times, the moves throughout the week have been reminiscent of the dizzying swings that gripped markets at the onset of the COVID-19 pandemic, when the economy was shutting down and investors scrambled to analyze the pandemic's impact on U.S. corporations. 

The benchmark S&P 500 added 36.56 points, or 0.9%, to 3992.93 Friday, a day after softer inflation data sent the benchmark index to its biggest one-day rise since April 2020. The Dow Jones Industrial Average added 32.49 points, or 0.1%, to 33747.86. The tech-heavy Nasdaq Composite added 209.18 points, or 1.9%, to 11323.33, capping its biggest two-day gain since November 2008. 

The S&P 500 and Nasdaq added 5.9% and 8.1% for the week, their best performance since June and March, respectively. The Dow added 4.1% for the week. 

"It certainly is our first hint that inflation could be moderating," said Dev Kantesaria, founder of Valley Forge Capital Management, of the inflation figures. "But with economic data, there's always a chance of a head fake." 

Meanwhile, shares of big tech companies raced higher. Amazon.com's stock added 4.3%, bringing gains for the week to almost 11%. Alphabet shares rose 2.6% and were also up about 11% for the week. Even more-speculative growth companies participated in the rally. The ARK Innovation Exchange-Traded Fund soared 15% for the week.

BLUNT REBUKE: New Twitter owner Elon Musk curtly declined an offer by the former CEO of T-Mobile to "run" his new social media platform. 

John Legere, who helmed T-Mobile for seven years before stepping away from the company in 2020, tweeted that Musk could support product and technology while Legere manages the day-to-day operations. 

"I’m expensive but so is what you paid for Twitter," Legere tweeted. 

"No," Musk responded, before following up by saying that "Twitter at its core is a software & servers company" and the "technology needs to evolve rapidly, which requires a technologist."

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After the rejection, Legere asked Musk to "please consider" his "free advice."

"I believe [Twitter] can be the marketplace for transparent free speech AND a profitable growth company. That will require vision but also leadership and management," Legere tweeted. Musk, who closed his $44 billion deal to purchase Twitter last month, has shaken up the company's top brass, immediately firing former CEO Parag Agrawal, chief financial officer Ned Segal, and policy chief Vijaya Gadde. A slew of other executives have exited the company in recent days, including Yoel Roth, the former head of trust and safety at the platform.

SAFETY FIRST: The Transportation Security Administration (TSA) said Sunday it will conduct extra training for some of its employees after a Tampa-bound Frontier Airlines flight was diverted to Atlanta because a disruptive passenger was threatening other travelers with a box cutter. 

TSA said employees failed to identify a second box cutter on the passenger’s possession during screening. Normally passengers’ items are screened using CT technology, which creates a 3-D image that can be rotated 360 degrees for a "thorough analysis," TSA said. 

"Following review of the incident, including closed-circuit television (CCTV), the image review capabilities of the CT were not fully used," TSA Southwest said.

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During screening of his property, one box cutter was discovered, TSA Southwest said. The visible blades were removed from the box cutter and provided back to the passenger. According to TSA, the items should have been placed in checked bags or voluntarily abandoned. 

The passenger’s backpack containing the other box cutter and the remainder of the traveler’s property were screened for explosives, but the box cutter was not discovered, TSA Southwest said.  

The Frontier Airlines flight left from Cincinnati/Northern Kentucky International Airport Friday evening with a final destination of Tampa International Airport when the passenger was found in possession of the box cutter.

"When he went to go to the bathroom, the passenger in the window seat looked at me and said, ‘Hey he has a knife and he told me he was threatening to stab people, we need to say something to somebody,’" Hoffman told WLWT-News. "So I went up and talked to the flight attendants in the front of the airplane and let them know like this guy has a box knife and he’s been telling us he wants to stab people."

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The plane was rerouted and landed at Hartsfield-Jackson Atlanta International Airport and the passenger was arrested. Airline officials said the passenger did not injure anyone during the flight. The passenger has not been identified by police.