Mortgages, GameStop, Booze Earnings: 3 Things to Watch

© Reuters.

By Christiana Sciaudone — Stocks meandered for much of the day before closing close to a record. 


The rose as investors awaited the next key economic indicator — Thursday’s consumer-price data — that could give a clue as to when the Federal Reserve might start tapering. Large-cap tech stocks led the charge higher. 


took a beating, dropping to a two-week low as some analysts pointed at the recovery of the Colonial Pipeline ransom as the reason. 


The internet outages that plagued some websites early this morning had sorted themselves out by late morning. Fastly (NYSE:), whose tech was behind the problem, reversed an early loss to close up more than 10%. 

Here are three things that could affect markets tomorrow:

1. Economic data

It’s a quiet day on the data front, with mortgage applications and wholesale inventories the only numbers on the docket. Mortgage applications will look to rebound after dipping 4% previously, while inventories are expected to post another 0.8% gain.

2. GameStop earnings

Though recently outshined by AMC, GameStop (NYSE:) is still the OG meme stock, and it reports after the close on Wednesday. Those retail favorites still need to deliver on results, and GameStop is expected to post a loss on $1.2 billion in revenue. There will also be plenty of interest in Chewy (NYSE:) CEO Ryan Cohen’s involvement as the company makes its push into e-commerce.

3. In other earnings

If booze is more your meme, Brown Forman (NYSE:) is also due tomorrow. The maker of Jack Daniels and Chambord is expected to post gains in both sales and profit, with both expected to come in at 33 cents a share and $772 million, respectively. Also due: RH (NYSE:) and Dollarama.

See also  1 FTSE 250 high-yielder and 2 small-caps I’m considering buying



Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here