Welcome to the first real trading week of 2024

Last week’s trading was thin, leading to some volatile market moves. This week sees US inflation data and the start of earnings season that could set a clearer direction for stocks.

New York (CNN) — Welcome to the first real trading week of the year. Yes, last week technically marked the beginning of trading in 2024, but the volume of trading was lower than usual as investors savored the final morsels of their winter vacations. That meant that the trades made moved the market more easily — and that’s what we saw. Major indexes swung up and down and then up again, struggling to accurately interpret economic news and find a direction. But Wall Street will likely become more decisive this week — setting the pace for the year to come. The December Consumer Price Index, a benchmark measure of US inflation, is due out on Thursday and several big banks kick off the fourth quarter earnings season on Friday. Between all of that, JPMorgan will hold its health care conference, which will likely drive headlines about winning and losing stocks in the pharmaceutical sector. CES, one of the largest tech events in the world, will also push the artificial intelligence sector back to the center of the news cycle. Before the Bell spoke with Joseph Brusuelas, chief economist at RSM US, to break it all down. This interview has been edited for length and clarity.