By Liz Moyer
Investing.com — Stocks saw continued gains as investors absorbed a steady stream earnings from large companies like General Motors (NYSE) and Coca-Cola Co (NYSE:).
It’s not only earnings that investors are concerned about. A variety of data, including manufacturing activity and services activity, are indicating a slowdown in economy. This is good news for growth stocks which have been hurt by rising interest rates as Federal Reserve attempts to reverse the trend.
Stocks surged last week on the hope that the Fed would ease back on its interest rates hikes after its meeting next Wednesday, when it will raise rates an additional 0.75 percentage points. This week’s data would support that. As the housing market cools, data on new and pending sales of homes is expected to show a slowdown in comparison to the previous month. This is due to higher mortgage rates. Expectations are that they will also fall. Expectations are that personal income and spending data will remain the same or inch higher as Friday’s inflation reading.
Thursday is also the deadline for data on new.
Here are three things which could have an impact on markets tomorrow:
1. Meta earnings
Facebook parent Meta Platforms Inc NASDAQ: is expected to report earnings in the range of $1.93 per share for revenue of $27.6billion, but analysts will be focusing on what it says about digital ads and its ambitions to build a metaverse.
2. Bristol-Myers Squibb earnings
Bristol-Myers Squibb Company (NYSE) expects to report earnings of $1.82 per share on earnings of $11.1 million.
3. Boeing earnings
Airplane maker Boeing Co (NYSE: ) is expected to report earnings of 18c per share on revenue of $18.2billion. Analysts want to know more about the orders and delivery of airplanes as the aviation industry struggles to recover from the pandemic lockdown.