Earnings, Fedspeak, rideshare strikes: What to Watch
Wednesday will see a slew of earnings reports, including: Cisco Systems (CSCO), Kraft Heinz (KHC), Sony (SONY), Occidental Petroleum (OXY), and Equinix (EQIX).
Chicago Federal Reserve President Austan Goolsbee and Fed Vice Chair for Supervision Michael Barr will speak on the latest Consumer Price Index (CPI) report which came in hotter-than-expected.
A strike is expected to breakout amongst independent contractors who work for ride-share operators Uber (UBER), Lyft (LYFT), and Doordash (DASH). The strike is in response to allegations that those companies charge drivers disproportionately for commissions.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
Video Transcript
[AUDIO LOGO]
JOSH LIPTON: Time now for what to watch Wednesday, February 14, starting off on the earnings front. Cisco, Sony, Occidental, Kraft Heinz, and Equinix, all reporting tomorrow. Cisco's second quarter earnings coming after the networking equipment giant announced thousands of job cuts last week. And energy giant Occidental's report coming amid a slew of deals in the oil sector. Shares of that company down about 4% so far this year.
JULIE HYMAN: Also on deck, Fed speak, Chicago Fed President Austan Goolsbee and Fed vice chair for supervision Michael Barr will both speak tomorrow. Today's hotter than expected CPI print sparking a market selloff and fresh speculation about the Fed's timeline for cutting rates.
JOSH LIPTON: And shifting gears to ridesharing, thousands of drivers from Uber, Lyft, and DoorDash are expected to strike tomorrow on Valentine's Day over fare pay. The independent contractors accusing the ridesharing platforms of taking disproportionately high amounts as commissions.
