Stocks Aim for Rebound Wednesday Following Tuesday’s Dip, Fueled by micron’s Earnings
U.S. stock markets are poised for a potential recovery Wednesday, following declines in the previous session, as investors digest positive after-hours earnings from Micron Technology (MU). The tech sector, and the broader market, will be closely watching economic data releases throughout the day and a flurry of earnings reports, including those from homebuilders, for further direction.
Tuesday’s market weakness came amid ongoing concerns about interest rates and economic growth. Today’s economic calendar-featuring data on mortgage rates, new home sales, and building permits-could offer clues about the housing market’s health and the impact of the Federal Reserve’s recent rate adjustments. Approximately 25 companies are scheduled too report earnings, with a focus on how businesses are navigating the current economic landscape.
Here’s a breakdown of key events for today:
Economic Data & Events:
The Mortgage Bankers Association (MBA) is set to release data on last week’s 30-Year Mortgage Rate, which is anticipated to show a slight decrease following the Fed’s recent rate cut. Later, investors will analyse August’s New Home Sales and Building Permits figures, particularly in the context of recent earnings from Lennar (LEN) and upcoming reports from other homebuilding companies. The Energy Details Management will also publish its latest data on crude oil stocks, production, and imports. remarks from Federal Reserve Governor Mary Daly (San Francisco) are scheduled for the afternoon.
Earnings Reports:
A total of 25 earnings reports are expected today, including eight from companies with market capitalizations exceeding $1 billion.Notable morning reports include Cintas Corporation (CTAS),Uranium Energy Corp (UEC),and Thor Industries (THO). this evening, KB Home (KBH) and H.B. Fuller (FUL) will release their results, alongside other companies.
Key earnings releases today, per Nasdaq, are visualized above.
