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Stock index futures were higher on Friday, as traders looked forward to fresh inflation data in hopes of gauging the Federal Reserve’s monetary policy. Wall Street’s major averages ended mixed on Thursday, as investors assessed Meta Platforms’ rise after Mark Zuckerberg is reportedly cutting Metaverse spending, and jobless claims came in lower than expected. The Federal Reserve will announce its interest rate decision next week. Odds for a 25-basis-point cut are at 87%, according to the CME FedWatch Tool.
As the year comes to a close, with holidays around the corner, investors will be paying close attention to economic reports due to be announced next week. These include the NY Fed Consumer Inflation Expectations report on Monday, the NFIB Small Business Optimism Index, Redbook, and JOLTS Job Openings on Tuesday, with the MBA Mortgage Applications, Employment Cost Index, FOMC Statement, and Fed Interest Rate Decision due to be announced on Wednesday. Thursday will include the release of a report on jobless claims, while Friday will see the release of the Baker Hughes Rig Count.
AutoZone (AZO), GameStop Corp. (GME), Campbell’s (CPB), Oracle (ORCL), Adobe (ADBE), Daktronics (DAKT), Broadcom (AVGO), Costco (COST), and lululemon athletica (LULU) will report earnings next week.
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Earnings spotlight: Monday: Toll Brothers (TOL), Compass Minerals (CMP). See the full earnings calendar.
Earnings spotlight: Tuesday: AutoZone, GameStop Corp., Campbell’s. See the full earnings calendar.
Earnings spotlight: Wednesday: Oracle, Adobe, Daktronics. See the full earnings calendar.
Earnings spotlight: Thursday: Broadcom, Costco, lululemon athletica. See the full earnings calendar.
Earnings spotlight: Friday: Johnson
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