The financial markets experienced some turbulence last week due to a higher-than-expected consumer inflation reading. The Consumer Price Index (CPI) for January showed a year-over-year increase of 3.1%, surpassing expectations. This elevated inflation level, combined with less favorable details, led to a decline in stock prices for the week. Despite strong earnings reports from various companies, the S&P 500 ended the week down by 0.4%, with the Magnificent 7 stocks dropping 1.5%.
Earnings season continues at a slower pace, with Berkshire Hathaway expected to release its earnings report along with Warren Buffett’s annual letter to shareholders. Last week, Berkshire Hathaway made headlines with its stock moves, including additional purchases in the oil sector and reducing holdings in Apple.
