Market attention this Friday at 2:30 p.m. focused on the US Consumer Price Index. In detail, it rose at an annual rate of 2.4% in January, down from 2.7% the previous month, while the consensus had looked for a decline only to 2.5%.

The Department of Labor, which publishes the figures, said that on an underlying basis (that is, excluding energy and food), the annual US inflation rate came in at 2.5% in the first month of the year.

Measured month-on-month, consumer prices rose 0.2% in headline terms and 0.3% on an underlying basis in January, after sequential increases of 0.3% and 0.2%, respectively, in December.

After US jobs data came in far higher than expected (130,000 positions versus 75,000 expected), these inflation figures will serve as a compass for anticipating the Federal Reserve's next decisions, as the prospect of monetary easing appears to be receding.

Earnings galore

 After the close last night, a large number of companies released results that are set to drive much of this final session of the week.

Applied Materials is expected to jump after issuing guidance well above expectations for its second quarter, supported by rising demand for semiconductor manufacturing equipment, fueled by the boom in artificial intelligence and a global memory shortage. The group forecasts revenue of around $7.65bn, plus or minus $500m, versus $7.01bn anticipated by analysts.

That outlook was released alongside its Q1 results. The major semiconductor equipment maker posted revenue of $7.01bn for the period, above expectations, and adjusted earnings per share of $2.38, versus $2.20 expected.

Rivian, meanwhile, is expected to climb after delivering quarterly results above expectations and an ambitious forecast for delivery growth in 2026. The electric-vehicle maker expects to deliver between 62,000 and 67,000 units this year, an increase of 47% to 59% compared with 2025. Revenue reached $1.7bn in Q4 2025, lifting full-year revenue to an 8% year-on-year increase, to more than $5.3bn. The annual net loss narrowed to $3.6bn from $4.75bn in 2024.

Instacart is expected to jump at the open, buoyed by better-than-expected quarterly results and solid guidance. The grocery delivery specialist posted Q4 revenue of $992m, above the $974m anticipated, despite EPS of $0.30, down from the $0.52 expected. Net income stood at $81m, while adjusted EBITDA reached $303m, again topping market forecasts.

Airbnb shares were up 6% in premarket trading on Wall Street, supported by broadly positive financial results and favorable guidance. Q4 revenue reached $2.78bn, topping the $2.72bn expected by analysts, despite EPS easing to $0.56 versus $0.66 anticipated. Net income totaled $341m, down from $461m a year earlier, a decline linked to strategic investments and one-off charges.

The home-rental specialist forecasts current-quarter revenue of between $2.59bn and $2.63bn, above the consensus of $2.53bn.

By contrast, Pinterest is expected to fall sharply at the open after releasing mixed quarterly results. In the fourth quarter, earnings per share came in at $0.67, below the $0.69 expected, according to the LSEG consensus. Revenue, at $1.32bn, matched expectations. For Q1 the visual search and discovery platform forecasts revenue of between $951m and $971m, below the $980m anticipated by analysts.