Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Author
Aung Myo Thu
Aug 01, 2023 8:26PM ET
hi
0
2
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Last Call for Cyber Monday! Save Now on Claim 60% OFF
Qualcomm earnings, Shopify reports, CVS Health: 3 things to watch
Published Aug 01, 2023 03:52PM ET
© Reuters.
Investing.com -- Stocks wobbled on Tuesday as investors took in a deluge of reports from S&P 500 companies as they await July's jobs report on Friday.
It's the busiest week of earnings, with reports due out later from Apple (NASDAQ:AAPL) and Amazon.com (NASDAQ:AMZN) among big tech names. Pharmaceutical giants Merck & Company Inc (NYSE:MRK)and Pfizer (NYSE:PFE) reported mixed results on Tuesday.
But investors are keenly focused on Friday's jobs report, which is expected to show the economy added 200,000 jobs, slightly cooling from the prior month, while unemployment is expected to remain at record-lows near 3.6%. The Federal Reserve is looking for signs that the tight labor market has shown some softening without sparking big job losses as it tries to balance its fight against inflation with its efforts to guide the economy to a soft landing.
The Fed doesn't meet to decide on interest rates again until September. Futures traders see the probability of the Fed remaining at current rate levels when it does meet then, while some see a 30% probability of it raising rates another quarter of a point in November.
The idea that the Fed could be at the end of its rate hikes is lifting tech stocks, pulling the Nasdaq higher by 37% so far this year.
Here are three things that could affect markets tomorrow:
1. Qualcomm earnings
Chip maker Qualcomm Incorporated (NASDAQ:QCOM) is expected to report earnings per share of $1.81 on revenue of $8.5 billion.
2. Shopify reports
The website platform Shopify Inc (NYSE:SHOP) is expected to report earnings per share of 7 cents on revenue of $1.6B.
3. CVS Health
Pharmacy chain and health provider CVS Health Corp (NYSE:CVS) is expected to report earnings per share of $2.13 on revenue of $86.4B.
Related Articles
Comments (1)
Cem Ce
Aug 01, 2023 8:26PM ET
hi
0
1
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
Add a Comment
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.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.