English
French
German
Italian
Russian
Spanish
Services PMI, Fed speakers, Hibbett earnings: 3 things to watch
Services PMI, Fed speakers, Hibbett earnings: 3 things to watch By Investing.com
Breaking News
‘;
Stock Markets 8 hours ago (Mar 02, 2023 03:53PM ET)
(C) Reuters
By Liz Moyer
Investing.com — Stocks staged a rally despite earlier data on initial jobless claims that stoked fears about interest rates staying higher for longer.
Initial jobless claims fell last week and were below 200,000 again, evidence of a still-tight labor market despite thousands of layoffs in big tech in the last few months. That combined with hotter-than-expected inflation data only adds to the Federal Reserve’s conviction that its work to tame inflation isn’t close to being finished.
Investors are expecting the Fed to raise rates again when it meets this month and again in May, and some Fed officials have said in recent days that they believe rates need to move higher. Futures traders see the benchmark rising above 5.25% by late summer.
Big retailers have reported somewhat mixed results. Lowe’s (NYSE:LOW) sees still-softening demand for home improvement projects, while Dollar Tree (NASDAQ:DLTR) is seeing an influx of higher-income shoppers seeking bargains.
Next week, investors will get data on jobs for February, both from private payroll firm ADP and from the government on Friday, March 10. Fed Chair Jerome Powell is also scheduled for his periodic testimony before the Joint Economic Committee on Capitol Hill on Tuesday.
Here are three things that could affect markets tomorrow:
1. Services PMI
The ISM non-manufacturing PMI for February is due out at 10:00 ET (15:00 GMT). Analysts expect a reading of 54.5, which is slightly lower than the 55.2 reported for January.
2. Fed speakers
An array of Fed officials are scheduled to speak at various times tomorrow, including Dallas Fed President Lori Logan, Atlanta Fed President Raphael Bostic, Fed Gov. Michelle Bowman, and Richmond Fed President Tom Barkin.
3. Hibbett earnings
Retailer Hibbett Sports (NASDAQ:HIBB) is expected to report earnings per share of $3 on revenue of $482.6 million.
Services PMI, Fed speakers, Hibbett earnings: 3 things to watch
Terms And Conditions
Privacy Policy
Risk Warning
(C) 2007-2023 Fusion Media Limited. All Rights Reserved.
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.
