Existing home sales, Nike earnings, GameStop: 3 things to watch By Investing.com

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Existing home sales, Nike earnings, GameStop: 3 things to watch

Published Mar 20, 2023 16:30

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Existing home sales, Nike earnings, GameStop: 3 things to watch

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By Liz Moyer

Investing.com -- Stocks rallied on Monday after the weekend's rescue of Credit Suisse (SIX:CSGN) Group (NYSE:CS) by UBS Group (NYSE:UBS) with the backing of Swiss regulators, a move that aimed to restore confidence in the financial markets.

Investors are turning their attention to this week's Federal Reserve meeting and trying to figure out how influential the banking turmoil of recent weeks will be in the policymakers' decision on interest rates. Most see the Fed raising rates by a dovish quarter of a percentage point, while about a quarter of futures traders see no move at all.

Investors are also worried that the Fed's moves could jolt the economy into a recession later this year. The dot-plot forecasts of the Fed's voting members will come out on Wednesday alongside the decision on rates, and investors will be studying the chart for clues about how much the Fed's thinking has changed since the last dot-plot chart.

This week also brings more data on the labor market in the form of the initial jobless claims report for the prior week. Job trends have remained strong even though there is evidence price growth is slowing.

Here are three things that could affect markets tomorrow:

1. Existing home sales

Existing home sales for February is due out at 10:00 ET (14:00 GMT). Analysts are expecting the annual number to be 4.17 million, up slightly from the prior month, but the month-to-month increase to be 4% compared with the prior drop of 0.7%.

2. Nike earnings

Athletic apparel maker Nike Inc (NYSE:NKE) is expected to report earnings per share of 55 cents on revenue of $11.47 billion.

3. GameStop results

Meme stock and game retailer GameStop Corp (NYSE:GME) is expected to report a loss per share of 13 cents on revenue of $2.18B.

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