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Yahoo Finance Plus Retail Profit, Tech Reports, Mortgage Demand: 3 Things to Watch
By Liz Moyer
Investing.com -- Stocks traded mostly sideways on Tuesday as weakness in energy offset strength in travel-related sectors, and the U.S. was set to reach a 50% vaccination rate for adults.
The vaccination trends, and drop in new domestic Covid cases, is energizing corners of the market like airlines, cruise operators and other leisure-related stocks. Public health restrictions across the U.S. are lifting, encouraging people to venture out for the first time in a year.
American Airlines Group (NASDAQ:AAL) and United Airlines Holdings Inc (NASDAQ:UAL) said they expected an even faster return of business travel demand than earlier forecasts, boosting their stocks.
Consumer confidence in the economy, however, fell short of expectations after surging to a record high in April.
In tech news, Amazon.com (NASDAQ:AMZN) faces a lawsuit by the District of Columbia’s Attorney General, who accuses the ecommerce giant of anticompetitive pricing practices involving its third-party sellers.
Here are three things that could affect markets tomorrow:
1. Retail earnings keep on coming
In retail earnings on Wednesday, analysts tracked by Investing.com are expecting Dick’s Sporting Goods Inc (NYSE:DKS) to report earnings per share of $1.16 on revenue of $2.21 billion, and they expect American Eagle Outfitters Inc (NYSE:AEO) to report EPS of 47 cents on revenue of $1 billion.
2. Tech earnings also rolling in
Tech also has some earnings of note on Wednesday. Analysts expect Workday Inc (NASDAQ:WDAY) to report EPS of 73 cents on revenue of $1.16 billion, Snowflake Inc (NYSE:SNOW) to report a loss of 16 cents on revenue of $212.9 million, and NVIDIA Corporation (NASDAQ:NVDA) to report EPS of $3.28 on revenue of $5.39 billion.
3. Housing data this week
Mortgage applications for the last week come out at 7:00 AM ET (1100 GMT). Already on Tuesday, data on house prices showed they advanced faster than expected in March, some 13.3.% for 20 major markets over the prior year, up from 12% in February over the prior year.
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