Consumer prices, Delta Air earnings, Domino's Pizza: 3 things to watch

Published 10/11/2023, 03:49 PM
© Reuters.
DAL
-
DPZ
-

Investing.com -- Stocks were heading higher in the last 30 minutes of trading on Wednesday after the release of the minutes from the Federal Reserve's meeting in September.

Most of the central bank's policymakers agreed that one more rate hikes would be appropriate, the minutes said, and repeated that they saw need to keep interest rates higher for longer to battle inflation. But that was back in mid-September. Since then, comments by some Fed officials suggest they are leaning more cautiously on further rate hikes. That's after Treasury yields rose sharply to 16-year highs in recent days.

While yields have eased lower today, a hotter than expected inflation report could change that on Thursday. Already producer prices came in stronger than expected on Wednesday. On Thursday, investors will get the September reading on consumer prices.

The Fed wants to get inflation back to its 2% annual target rate, and it is not there yet. Higher-for-longer rates could nudge it lower, but elevated bond yields are also helping to cool the economy. The futures market puts a 91% probability on the Fed holding rates steady in November, but looking one month further into the future, that prediction is cloudier. 

Here are three things that could affect markets tomorrow:

1. Consumer prices

The consumer price index for September is due out at 8:30 ET (12:30 GMT). Analysts expect the headline number to rise 3.6% from last year and 0.3% for the month. Core CPI, which excludes food and fuel prices, is expected to rise 4.1% from last year and 0.3% from August.

2. Delta Air earnings

Delta Air Lines Inc (NYSE:DAL) is expected to report earnings per share of $1.97 on revenue of $14.6 billion, and investors will be listening for updates on costs and travel demand.

3. Domino's Pizza reports

The restaurant chain Domino’s Pizza Inc (NYSE:DPZ) is expected to report earnings per share of $3.31 on revenue of $1.05 billion.

   

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.