Top Macro & Earnings Watch: Feb 9–11 (CPI, Jobs, Retail, Fed Transition)

Markets face a compressed macro week: February 9 (Wed) 8:30 AM nonfarm payrolls, unemployment, and average hourly earnings precede the Jan 6 (Fri) 8:30 AM CPI, testing inflation narratives and the incoming Fed chair’s policy path. Tuesday, Feb 8 (Tue) 8:30 AM December retail sales assess holiday spending and consumer resilience ahead of Q1. February earnings highlight CSCO (Feb 9) and ANET (Feb 10) on networking demand, MCD (Feb 9) and KO (Feb 9) for consumer spending, and SHOP (Feb 9), ABNB (Feb 10), COIN (Feb 10), NET (Feb 10), GILD (Feb 10), and AEM (Feb 10) across tech, platforms, and precious metals. Wednesday and Thursday also see Treasuries auctions. Strong jobs plus hotter-than-expected CPI could pressure rate-sensitive sectors and validate disinflation concerns, while cooling labor markets with moderating inflation may support dovish expectations despite Fed leadership transition uncertainty.