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By Liz Moyer
Investing.com — Stocks were mixed for most of the day on Wednesday as investors tried to shake off recession fears.
More data on jobless claims and consumer confidence this week could either stoke those fears or calm them, after stronger-than-expected data on November jobs sparked a new wave of worry over the Federal Reserve’s next move.
The Fed holds its two-day policy meeting starting Tuesday, and issues its decision on interest rates on Wednesday. Chair Jerome Powell will talk to reporters that afternoon.
What’s important to investors is what the Fed officials signal for the path of rates in the next few quarters. Officials have indicated rates will stay higher for longer, something that is weighing on growth stocks.
Friday’s data release will also include the producer price index for November, which is expected to show a slight cooling from the previous month.
Here are three things that could affect markets tomorrow:
1. Costco earnings
Costco Wholesale Corp (NASDAQ:COST) is expected to report earnings per share of $3.12 on revenue of $54.9 billion. Investors will be listening to what the warehouse retailer says about consumer preferences and whether dollars are being diverted from discretionary items to food and other necessities.
2. Broadcom earnings
Broadcom Inc (NASDAQ:AVGO) is expected to report earnings per share of $10.28 on revenue of $8.9B. Analysts will be listening to what the chip maker has to say about inventory and supply chains.
3. Lululemon Athletica earnings
Athleisure apparel maker Lululemon Athletica Inc (NASDAQ:LULU) is expected to report earnings of $1.96 a share on revenue of $1.8B.
Source: Investing.com
