Housing starts, BJs Wholesale reports, stopgap funding: 3 things to watch By
2023-11-17 08:20:05

-- Stocks were lower heading into the final few minutes of trading on Thursday, taking a pause in a rally after cautious words about consumer spending from the largest U.S. retailer, Walmart (NYSE:).

Retail reports this week and next are expected to give a sense of how consumers are reacting to the current economic climate as the crucial holiday season kicks off. While big competitors such as Walmart and Target have noted a trend of consumers holding off on big purchases, other retailers have a more optimistic view on trends for the final quarter of this calendar year.

Consumer spending has helped keep the economy chugging along despite higher prices, and evidence that inflation is cooling faster than expected could help bolster the case for the Federal Reserve keeping interest rates steady.

Futures traders see the probability of a rate pause at the Fed's December meeting at basically 100%. They see the same for the January meeting, and they see a probability of a rate cut as early as March.

A strong weekend for holiday travel is expected for the Thanksgiving holiday in the U.S., with more consumer spending on airline tickets, hotel rooms, rental cars, meals out and other entertainment. The next jobs report comes out after that, giving the Fed more data to help decide its next move.

Here are three things that could affect markets tomorrow:

1. Housing starts

The housing market has been caught between a lack of supply and high mortgage rates keeping buyers at bay. But home building has been a bright spot. Housing for October are expected to come in at 1.345 million. The data are due out at 08:30 ET (13:30 GMT).

2. BJs Wholesale reports

Another retailer, the warehouse club (NYSE:), is expected to report earnings of 94 cents a share on revenue of $4.9 billion.

3. Stopgap funding

President Joe Biden is expected to sign a stopgap federal government spending bill before Friday's deadline, averting a government shutdown just in the nick of time after Congress pushed it through this week.

The content of this article does not represent the views of fxgecko website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!

Related News

您正在访问的是FxGecko网站。 FxGecko互联网及其移动端产品是中国香港特别行政区成立的Hitorank Co.,LIMITED旗下运营和管理的一款面向全球发行的企业资讯査询工具。

您的IP为 中国大陆地区,抱歉的通知您,不能为您提供查询服务,还请谅解。请遵守当地地法律。