Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Existing home sales, Nike earnings, GameStop: 3 things to watch

Published 21/03/2023, 07:30 am
Updated 21/03/2023, 07:30 am
© Reuters.

© Reuters.

By Liz Moyer

Investing.com -- Stocks rallied on Monday after the weekend's rescue of Credit Suisse (SIX:CSGN) Group (NYSE:CS) by UBS Group (NYSE:UBS) with the backing of Swiss regulators, a move that aimed to restore confidence in the financial markets.

Investors are turning their attention to this week's Federal Reserve meeting and trying to figure out how influential the banking turmoil of recent weeks will be in the policymakers' decision on interest rates. Most see the Fed raising rates by a dovish quarter of a percentage point, while about a quarter of futures traders see no move at all. 

Investors are also worried that the Fed's moves could jolt the economy into a recession later this year. The dot-plot forecasts of the Fed's voting members will come out on Wednesday alongside the decision on rates, and investors will be studying the chart for clues about how much the Fed's thinking has changed since the last dot-plot chart.

This week also brings more data on the labor market in the form of the initial jobless claims report for the prior week. Job trends have remained strong even though there is evidence price growth is slowing.

Here are three things that could affect markets tomorrow:

1. Existing home sales

Existing home sales for February is due out at 10:00 ET (14:00 GMT). Analysts are expecting the annual number to be 4.17 million, up slightly from the prior month, but the month-to-month increase to be 4% compared with the prior drop of 0.7%.

2. Nike earnings

Athletic apparel maker Nike Inc (NYSE:NKE) is expected to report earnings per share of 55 cents on revenue of $11.47 billion.

3. GameStop results

Meme stock and game retailer GameStop Corp (NYSE:GME) is expected to report a loss per share of 13 cents on revenue of $2.18B.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.