Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Kroger, Jobless Claims, Business Activity Data: 3 Things to Watch

Stock Markets Dec 02, 2020 04:07PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Liz Moyer

Investing.com -- A long-awaited federal stimulus plan edged closer to reality on Wednesday, helping to boost stocks despite gloomier news on the progress of containing Covid-19.

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer backed a $908 billion deal that includes support for small businesses and unemployed Americans. The deal should be used "as the basis for immediate negotiations," they said in a joint statement.

Overnight, the U.K. approved temporary emergency use of Pfizer Inc (NYSE:PFE)’s Covid-19 vaccine, adding to hopes U.S. approval may not be far behind.

And it can’t come quickly enough. Covid cases in the U.S. are now above 13.3 million, and the number of deaths approaches 270,000 Americans.

The spread of the virus has led to a new wave of business restrictions, and that was seen in the ADP private payrolls report on Wednesday, which increased less than expected for November.

Here are three things that may affect markets tomorrow:

1. Earnings from a grocery giant and a beauty emporium

The grocery chain Kroger Company (NYSE:KR) is expected to report earnings per share of 66 cents on revenue of $29.9 billion, according to analysts tracked by Investing.com.

Ulta Beauty Inc (NASDAQ:ULTA), the cosmetics retailer that recently struck a store within a store deal with Target Corporation (NYSE:TGT), is expected to report EPS of $1.44 on revenue of $1.56 billion.

2. More data on jobs, or the lack thereof

After Wednesday’s disappointing report on private payrolls from ADP, we get the weekly readings on new and continuing jobless claims, and the trends have shown elevated levels of unemployment as the pandemic rages on.

Initial jobless claims are expected to be 775,000 for last week, about the same as the reported number the previous week. Continuing jobless claims are expected to be 5.9 million. Joblessness going into the holiday season may weigh on lawmakers as they consider another stimulus round. The numbers are released at 8:30 AM ET (1230 GMT).

3. Non-manufacturing business activity data

Covid-19 has hit the services industry especially hard as retailers, entertainment venues, restaurants, and hotels are just some of the businesses forced to shut all or somewhat. 

On Thursday, the ISM non-manufacturing business activity reading for November is expected to come in around 60.9 compared to 61.2 for October, indicating a slowdown. The data will be released at 10:00 AM ET (1400 GMT).

 

Kroger, Jobless Claims, Business Activity Data: 3 Things to Watch
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email