Brown Forman earnings, Chewy, Salesforce reports: 3 things to watch By Investing.com

No-Recession Predictions Begin to Look More Plausible, but Risks Remain Too High

Brown Forman earnings, Chewy, Salesforce reports: 3 things to watch

Published Aug 29, 2023 03:45PM ET

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Brown Forman earnings, Chewy, Salesforce reports: 3 things to watch

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Investing.com -- Stocks rose on Tuesday as investors awaited key economic reports on jobs and inflation ahead of the Federal Reserve's next policy meeting in September.

The futures markets expect the Fed will pause on another interest rate hike next month as officials study the data to see how well their actions to date have worked to cool inflation. But Fed officials have also said they stand ready to raise rates further as required depending on that data.

The central bank wants to nudge inflation back to its 2% target amid persistently sticky prices, though there are signs that inflation is steadily easing. On Tuesday, employers reported fewer than expected job openings, a sign that there might be some loosening in the tight labor market. The jobs report for August is due out Friday. A day earlier, investors will see the latest reading on inflation in the form of the personal consumption expenditure index and new jobless claim numbers for last week.

August trading is also winding to a close this week, and the three major indexes are on pace for a negative month despite Tuesday's tech stock rally.

Investors will head out for the long holiday weekend in the U.S. on Friday and resume trading on Tuesday.

Here are three things that could affect markets tomorrow:

1. Brown Forman earnings

The spirits maker Brown Forman (NYSE:BFb) is expected to report earnings per share of 53 cents on revenue of $1.05 billion.

2. Chewy reports

The pet supply retailer Chewy Inc (NYSE:CHWY) is expected to report a loss per share of 4 cents on revenue of $2.76B.

3. Salesforce earnings

The software maker Salesforce Inc (NYSE:CRM) is expected to report earnings per share of $1.90 on revenue of $8.5B.

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Brown Forman earnings, Chewy, Salesforce reports: 3 things to watch

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