3 things to watch out for by Investing.com
By Dhirendra Tripathi
Investing.com – Stocks fell in volatile trading on Monday as markets spooked a debt crisis at China’s largest real estate developer.
The company, China Evergrande, could potentially miss a debt payment later this week, raising fears that contagion could spread to global markets, like other big disruptions in the past.
But in the United States, there are concerns on several fronts, including a looming stalemate in Congress over the federal debt ceiling as well as the Federal Reserve’s two-day political meeting starting Tuesday.
The index plunged over 900 points and the index also fell sharply with less than an hour of trading remaining in the US session.
Stocks are having a terrible September, with the Dow Jones having its worst day since October last year, weighed down by fears that Congress will hike corporate taxes as businesses try to fight the pressure on margins due to rising input prices.
Investors are waiting to hear what Federal Reserve officials have to say on Wednesday after their meeting. Central bankers are expected to debate the timing of the decrease in monthly bond purchases, although a real announcement might not come until November or December.
Here are three things that could affect the markets tomorrow:
1. Software gains
Adobe Systems Incorporated (NASDAQ 🙂 will release its third quarter results on Tuesday. The company is expected to report earnings per share of $ 3.01 on revenue of $ 3.9 billion.
2. Shipping update
FedEx Corporation (NYSE :), the logistics company that benefited from the additional shipping business during the pandemic, is expected to post revenue of $ 21.9 billion and earnings per share of $ 4.94 for the first trimester. But almost everyone will be listening to the company update on the next few months and business activity in general.
3. Get your car parts here
Parts and accessories seller AutoZone Inc’s (NYSE 🙂 fourth quarter EPS was $ 29.71 and sales were $ 4.57 billion. Car sales increased during the pandemic as people bought used cars due to the chip shortage that delayed the rollout of new models.
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