English
French
German
Italian
Russian
Spanish
Powell testimony, Dick’s Sporting Goods, Stitch Fix: 3 things to watch
Powell testimony, Dick’s Sporting Goods, Stitch Fix: 3 things to watch By Investing.com
Breaking News
‘;
Stock Markets 14 hours ago (Mar 06, 2023 03:54PM ET)
(C) Reuters
By Liz Moyer
Investing.com — Stocks were muted on Monday as investors awaited the semiannual Congressional testimony of Federal Reserve Chair Jerome Powell.
Powell heads to Capitol Hill tomorrow and Wednesday and is expected to outline a case that there is still work to be done on inflation to get it heading back toward the central bank’s 2% target.
A key part of the Fed’s analysis will be the jobs report due out on Friday. Analysts expect the economy to add 200,000 jobs during February, which would be well below the 517,000 created in January. That earlier, hotter-than-expected number, helped reverse an early year rally in stocks on the hope that the Fed was nearing the end of its rate hiking.
Since early February, investors have worried that interest rates would rise higher and stay higher for longer than expected.
Futures traders are now expecting at least two more rate hikes, of a quarter of a percentage point each, in March and May. Some are even predicting a move of a half percentage point, as the Fed pushes the benchmark rate to above 5.25% by late summer.
The Fed will also get fresh data on inflation before its next meeting later this month.
Here are three things that could affect markets tomorrow:
1. Powell testimony
Powell is scheduled to appear in Congress at 10:00 ET (15:00 GMT) both Tuesday and Wednesday as lawmakers ask him questions about the direction of monetary policy and its effects on the American consumer and economy.
2. Dicks Sporting earnings
Dick’s Sporting Goods Inc (NYSE:DKS) is expected to report earnings per share of $2.89 on revenue of $3.4 billion.
3. Stitch Fix earnings
The personal styling platform Stitch Fix (NASDAQ:SFIX) is expected to report a 33 cent loss per share on revenue of $413 million.
Powell testimony, Dick’s Sporting Goods, Stitch Fix: 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.
