U.S. markets close in 5 hours 57 minutes
  • S&P 500

    4,273.82
    -6.33 (-0.15%)
     
  • Dow 30

    33,754.39
    -6.66 (-0.02%)
     
  • Nasdaq

    13,040.25
    -6.93 (-0.05%)
     
  • Russell 2000

    1,997.71
    -18.90 (-0.94%)
     
  • Crude Oil

    87.84
    -4.25 (-4.62%)
     
  • Gold

    1,792.20
    -23.30 (-1.28%)
     
  • Silver

    20.13
    -0.57 (-2.74%)
     
  • EUR/USD

    1.0201
    -0.0057 (-0.55%)
     
  • 10-Yr Bond

    2.7630
    -0.0860 (-3.02%)
     
  • GBP/USD

    1.2090
    -0.0048 (-0.40%)
     
  • USD/JPY

    132.7520
    -0.7280 (-0.55%)
     
  • BTC-USD

    24,166.37
    -319.23 (-1.30%)
     
  • CMC Crypto 200

    574.62
    -16.14 (-2.73%)
     
  • FTSE 100

    7,490.63
    -10.26 (-0.14%)
     
  • Nikkei 225

    28,871.78
    +324.80 (+1.14%)
     

ECB Decision, Meta Trades, DocuSign Earnings: 3 Things to Watch

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

By Liz Moyer

Investing.com -- Stocks closed lower on worries about Intel's (NASDAQ:INTC) challenges as investors awaited moves by central banks in Europe and the U.S.

The European Central Bank's next interest rate decision is expected Thursday morning, and next week the Federal Reserve will make its next move in the battle against inflation. Rising rates have dented the tech sector, with the tech-heavy NASDAQ Composite in bear territory. Intel fell 5% after the chipmaker touted an "incrementally more cautious” view on its near-term outlook amid pressure from falling demand as clients cut inventory levels.

Later this week, consumer price index data for May comes out. Investors have been weighing the mixed signals from the retail sector's recent earnings reports, which showed that while consumers continue to shop, they are being more picky about discretionary items while they prioritize more expensive food and fuel purchases and devote more of their household budgets to travel and entertainment.

The Fed wants to ease inflation by raising interest rates while at the same time keeping the labor market strong. Unemployment data for last week is also out Thursday morning. Recent weeks have shown unemployment to be near lows not seen since the late 1960s.

Earnings season has mostly wrapped up. And Spirit Airlines (NYSE:SAVE) investors, who were to vote on the offer from Frontier Group on Friday, will now have to wait. Spirit postponed the meeting until later this month as it continues to evaluate Frontier's bid and a competing offer from JetBlue.

Here are three things that could affect markets tomorrow:

1. ECB decision

The European Central Bank will release its latest rate decision tomorrow at 7:45 AM ET, including a statement. The press conference is scheduled for 8:30 AM ET. Analysts expect it to hold rates at zero.

2. Meta trade

Facebook's (NASDAQ:FB) ticker symbol officially changes tomorrow to META, for Meta Platforms, its new parent company. The social network changed its name last year in an effort to rebrand itself from a social media company to one focused on the building of the virtual metaverse. The stock is down 41% this year.

3. DocuSign earnings

DocuSign Inc (NASDAQ:DOCU), the virtual signature service that boomed during the remote-work phase of the pandemic, is expected to report earnings of 46 cents on revenue of $582.9 million. Analysts might be curious to learn more about the company's tighter ties to Microsoft (NASDAQ:MSFT).

Related Articles

ECB Decision, Meta Trades, DocuSign Earnings: 3 Things to Watch

Greif Shares Up 5% on Strong Q1 Earnings Beat and Raise

JANA Partners Sues Zendesk for Failing to Set Annual Meeting Date