By Dhirendra Tripathi

Investing.com — Thursday’s stock market wobble was due to tech slowing down, despite data showing that inflation could have slowed.

The December 0.2% increase in producer prices was after the 0.8% gain seen the month prior. There were signs that the supply chain problems experienced since the fall had begun to improve. The increase in confidence reflects the fact that the worst of this price spike is over. This also explains why the Omicron variation surge of Covid in the U.S. seems to have stalled. 

Producer prices rose 9.7% in the past year but was below analysts’ expectations for a jump 9.8% according to Reuters.

It’s earnings season yet again, with companies will reporting results on the final quarter of 2021 in the coming weeks. According to IBES data from Refinitiv and Reuters, the year-over-year earnings growth of companies was expected to be less in the fourth quarter than the previous three, but it still stood at 22.4%.

The big banks will kick off Friday just in time for Wall Street’s three-day weekend. Martin Luther King Jr. Day will see the stock market close on Monday.

These are the three factors that will impact markets tomorrow.

1. Earnings from big banks

JPMorgan Chase & Co (NYSE:) leads a wave of big banks reporting on Friday. According to data from Investing.com, analysts expect the bank will announce a fourth quarter profit per share (EPS) of $3 on revenues of $29.87 trillion. Analysts will listen to executives’ views on business, consumer borrowing, and the state of the economy.

2. Retail sales

Analysts at Investing.com predict that December’s sales will fall 0.1% month over month after increasing 0.3% from October to November. Omicron may have impacted holiday sales due to people shopping earlier for Christmas gifts in fall because they were afraid of running out. These numbers are available at 8:30 AM ET.

3. Michigan sentiment

The preliminary reading of the U.S.for January, as reflected in the University of Michigan’s Consumer Sentiment Index, is seen deteriorating slightly to 70 from December’s 70.6. Last month’s final figures followed a decade low of 67.4 in November.

–This report was contributed by Reuters staff and Investing.com employees