Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Personal income and spending, Kroger earnings, Ulta outlook: 3 things to watch

Published 11/30/2022, 03:45 PM
Updated 11/30/2022, 03:55 PM
© Reuters.

© Reuters.

By Liz Moyer

Investing.com -- Federal Reserve Chair Jerome Powell boosted stocks on Wednesday, sending the Dow up more than 500 points despite saying there was still work to be done to bring down inflation.

It was the news investors expected, along with his teeing up a smaller half-percentage point interest rate hike in December, when the Fed meets for the last time this year.

The remarks follow similar comments by other Fed officials, who have warned in recent days that the Fed will keep interest rates higher for longer to tame inflation.

While job openings for October came in slightly higher than expected, and private payrolls were lower than forecast, the second print of third-quarter gross domestic product came in above expectations.

Thursday will bring data on personal spending and income and that all tees up Friday's job report for November. Analysts expect the economy added 200,000 jobs for the month, which would be down from October.

Here are three things that could affect markets tomorrow:

1. Income and spending

Personal income for October is due out at 8:30 ET (13:30 GMT). Analysts expect it to rise 0.4% from the prior month, when it rose 0.4% as well. Personal spending is seen rising 0.8% from September's 0.6% gain.

2. Kroger earnings

Grocery chain giant Kroger Company (NYSE:KR) is expected to report earnings of 81 cents on revenue of $34 billion. Dollar General Corporation (NYSE:DG), which also reports, is seen with EPS of $2.54 on revenue of $9.4B.

3. Ulta Beauty earnings

Cosmetics retailer Ulta Beauty Inc (NASDAQ:ULTA) is expected to report earnings of $4.11 on revenue of $2.2B as consumers continued to buy their lipstick and hair products despite inflation.

Latest comments

I look forward to being strong and cash when they Dow falls to about 25,000 next year or less!
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.