Deere, Foot Locker, Newcrest Mining: 3 Things to Watch
2022.08.18 23:38
By Liz Moyer
Investing.com — Stocks were wobbling heading into the close on Thursday as investors continued to absorb a mixed bag of reports from retailers.
Some, like Walmart Inc (NYSE:WMT) and BJs Wholesale Club Holdings Inc (NYSE:BJ) have credited strong sales in their grocery businesses for helping to carry the day, while others such as Target Corporation (NYSE:TGT) and Kohl’s Corp (NYSE:KSS) have cited ongoing struggles as inflation-strapped shoppers hold back on purchases. Still, for the most part the news from the retail sector has been mildly positive, with executives citing a good start to back-to-school shopping and hope that holiday sales will not disappoint.
It’s entering a quiet part of the calendar as investors pause for the last few weeks of summer before the Labor Day holiday. Federal Reserve officials will head to their annual conference in Jackson Hole, Wyo., next week. The Fed’s policy making committee is next scheduled to meet over interest rates next month.
Next week brings more housing data in the form of new and pending home sales, as well as the second reading of second quarter economic output and inflation data later in the week.
Here are three things that could affect markets tomorrow:
1. Deere earnings
The farm equipment maker Deere & Company (NYSE:DE) is expected to report earnings per share of $6.64 on revenue of $12.96 billion.
2. Footlocker earnings
Foot Locker Inc (NYSE:FL), the athletic apparel retailer, is expected to report EPS of 85 cents on revenue of $2.08 billion.
3. Newcrest Mining earnings
Newcrest Mining Ltd (ASX:NCM) (OTC:NCMGF) of Canada is expected to report earnings per share of 50 cents on revenue of $2.5 billion.
