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Investing.com — Stocks were trying to hold onto Tuesday’s gains in late afternoon trading as a smattering of earnings reports cast a positive mood in the markets.
Worries about a recession continue to persist as the Federal Reserve heads straight toward what is widely expected to be a fourth-straight interest rate hike of a 0.75 percentage point. The Fed is determined to tame inflation even if that means inflicting some pain, something that has encouraged investors to steer away from riskier assets in recent weeks.
Earnings continue this week, with reports from airlines, consumer product companies, tech companies and more. About 60 S&P 500 companies are reporting their latest numbers this week.
In addition, there will be data that could show how the housing market is holding up with mortgage rates climbing and interested buyers remaining on the sidelines. The Fed’s Beige Book later on Wednesday will give investors a glimpse of business and economic conditions from various parts of the U.S.
Here are three things that could affect markets tomorrow:
1. Tesla earnings
Tesla Inc (NASDAQ:TSLA), the electric vehicle company owned by billionaire Elon Musk, is expected to report earnings of $1.03 a share on revenue of $22.5 billion.
2. Procter & Gamble earnings
Household product giant Procter & Gamble Company (NYSE:PG) is expected to report earnings of $1.56 a share on revenue of $20.4 billion.
3. IBM earnings
Tech giant International Business Machines (NYSE:IBM) is expected to report earnings of $1.79 a share on revenue of $13.5 billion.
