Dollar Store Earnings, Workday, VMWare: 3 Things to Watch
2022.08.24 23:13
By Liz Moyer
Investing.com — Stocks rose as investors tried to revive a summer rally.
Markets are mostly quiet, with investors holding their breath until word from the Federal Reserve’s annual meeting starting Thursday in Jackson Hole, Wyo. Chair Jerome Powell is scheduled to speak Friday and is expected to reconfirm the Fed’s commitment to taming inflation.
On Thursday, another reading on second quarter gross domestic product comes out. Analysts expect it to show a quarter to quarter drop of 0.8%. The weekly jobless claims data also comes out. Whether either report will influence the Fed’s next move on interest rates remains to be seen.
Investors have been hoping that the Fed will slow down its pace of interest rate increases, based on some signs that inflation is starting to cool off. But reports from retailers this earnings season show American consumers continued to feel pressured by higher prices and are shifting their spending habits to compensate. Investors will get another reading on that trend when big discount retailers report earnings tomorrow.
Friday’s speech by Powell will send investors off to a quiet late summer weekend.
Here are three things that could affect markets tomorrow:
1. Dollar retail earnings
Dollar General Corporation (NYSE:DG) reports earnings on Thursday. Analysts expect it to report $2.94 EPS on revenue of $9.4 billion. Dollar Tree Inc (NASDAQ:DLTR) also reports, and analysts expect $1.59 EPS on revenue of $6.8 billion.
2. Workday earnings
Workday Inc (NASDAQ:WDAY) is expected to report earnings per share of 79 cents on revenue of $1.5 billion.
3. VMWare earnings
VMware Inc (NYSE:VMW) is expected to report earnings of $1.58 on revenue of $3.3 billion.
