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Investing.com – The latest word from the Federal Reserve sent stocks lower in late afternoon trading on Thursday, and now the central bank enters a quiet period before its next policy meeting.
Fed Chair Jerome Powell told a panel at the IMF spring meeting that a 50-basis-point rate hike was “on the table” at the meeting, which is scheduled for early May.
That wasn’t much of a surprise –the markets are expecting it to make more than one such move in the coming months. But Powell’s words sent technology stocks into a tailspin anyway.
More corporate earnings are due in the coming days. So far, big companies have been relatively positive on the outlook for the current quarter and the remainder of the year.
President Joe Biden is on the road again Friday as he tries to persuade the American people that spending on clean energy is a good choice for the future, hawking administration efforts to build out a network of electric vehicle chargers and bring broadband capabilities to underserved areas.
Congress returns from recess next week to take up stalled initiatives such as funding for Covid treatment and the confirmation vote for Biden’s Fed nominees, including Powell himself.
Here are three things that could affect markets tomorrow:
1. Verizon earnings
Verizon Communications Inc (NYSE:VZ), which beat earnings and revenue estimates in its previous release, is expected to post earnings per share of $1.35 on revenue of $33.4 billion, according to analysts tracked by Investing.com.
2. Amex earnings
American Express Company (NYSE:AXP) will also post for its latest quarter, with analysts polled by Investing.com expecting earnings per share of $2.40 on revenue of $11.64 billion.
3. Honeywell results
Finally, Honeywell International Inc (NASDAQ:HON) is forecast to post earnings per share of $1.86 on Friday, with revenue anticipated to be $8.31 billion.
