Roblox, Sysco, Small Business Optimism: 3 Things to Watch
2022.08.08 23:53
By Liz Moyer
Investing.com — Stocks rose on Monday but investors are mostly looking to Wednesday’s report about inflation in July, hoping to see that the number is coming down.
Stocks have pushed higher in recent sessions as investors look to the day when the Federal Reserve gets less aggressive with its interest rate increases, which it has raised by 0.75 percentage point in each of the last few months. A drop in the inflation number could be a sign the economy is cooling enough for it to ease off that pace. The policy board’s next meeting is in September.
The July consumer price index is one key metric everyone is looking at. Economists predict it will read 8.7%, still a strong gain over last year but lower than the 9.1% recorded for June. Falling gasoline and commodity prices could be a factor in bringing the number down, though rents still remain high and companies have had to raise wages to attract workers.
There are also readings on consumer confidence expected later this week, another measure of progress policy makers will be watching.
Here are three things that could affect markets tomorrow:
1. Roblox earnings
Roblox Corp (NYSE:RBLX) is expected to report a per-share loss of 25 cents on revenue of $639 million. Analysts will be watching for user growth and hours engaged on the platform.
2. Sysco earnings
Sysco Corporation (NYSE:SYY) is expected to report earnings per share of $1.11 on revenue of $18.2 billion.
3. NFIB confidence
The National Federation of Independent Businesses will report its small business optimism index for July. Analysts expect a reading of 89.5, which would be the same as the June reading.
