Group warns of recession here, energy prices, two-day Fed meeting and more: Tuesday 5 things to know

Here are five main things It could affect trading on Thursday.

Nice slack here: Schork Group Director Stephen Schork on Monday warned the United States suffers from ‘moderate stagnation’ The “pull force” in energy prices will be greater as deflation intensifies.

On Monday, Schork noted that “we know we have runaway inflation,” noting that there are “only two ways to fight inflation” by building supply or destroying demand. More oil, natural gas and fossil fuels are needed in the market.

“The same goes for food. We are in a difficult situation where we are not producing enough food, especially when we see this fall season and because of the manipulation of this market.”

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Schork Group Chairman Stephen Schork discusses energy markets, arguing that the United States is already going through a “mild recession.” (iStock)

pinch blowing: Walmart on Monday cut its second-quarter and full-year earnings forecasts, saying high inflation is taking a toll on the retail giant. news Wal-Mart shares sent down After the closing bell. The company announced that it expects second-quarter adjusted earnings per share to fall to around 8 or 9% and fall to a range of 11 to 13% for fiscal year 2023.

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ribbon protection else they change they change %
WMT Wal-Mart Corporation 132.02 -0.19 -0.14%

Starting the meeting: The two-day FOMC meeting, the fifth policy meeting of the year the federal reserve, It kicks off on Tuesday morning. It concludes Wednesday afternoon with the interest rate decision, policy statement and press conference after meeting with Federal Reserve Chairman Jerome Powell.

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Federal Reserve Building in Washington, DC

This May 4, 2021 file photo shows the Federal Reserve Building in Washington. (AP Photo/Patrick Semansky, File/Associated Press)

The Fed is widely expected to raise the federal funds rate by three-quarters of a percentage point to a range of 2.25%-2.5%. This will be the second consecutive rate increase by the central bank of 75 basis points (June saw the first increase of 75 basis points since November 1994), after a half point rise in May and a quarter point increase in March. Prior to that, the funds rate was in the 0%-0.25% range after two emergency rate cuts in March 2020 in response to global epidemic.

Mega Gains Report Day: Due to five members of the Dao 2nd Quarter Earnings Report 3M, Cola and McDonald’s in the morning, Microsoft and Visa after closing. Before the opening bell, automaker General Motors, industrial conglomerate General Electric, health insurer Centene, powerful package delivery company United Parcel Service, aerospace and defense heavyweight Raytheon Technologies, and real estate group Bolt to name a few.

After the closing bell, Alphabet is set to report from Microsoft and Google. Microsoft is expected to report that earnings per share for the fourth quarter of the fiscal year rose 5.7% from a year ago to $2.29 as a result of a 14% jump in revenue to $52.44 billion. Microsoft divides its operations into three main segments: smart cloud (Azure, SQL, and Windows servers), more personal computing (Windows, Xbox, Surface, and PC peripherals) and productivity and business processes (Office 365, Skype and LinkedIn).

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ribbon protection else they change they change %
MMM 3M CO. 134.12 0.00 0.00%
Coke Coca-Cola assembled 494.11 -2.76 -0.56%
MCD McDonald’s Corporation. 250.38 -3.61 -1.42%
MSFT MICROSOFT CORP. 258.83 -1.53 -0.59%
Fifth Visa company 214.27 +0.57 + 0.27%

House Prices, Home Sales, Consumer Confidence: At 9 a.m. ET, May The housing price report will be released. There is no estimate for the non-seasonally adjusted index of 20 cities, but economists surveyed by Refinitiv expect the seasonally adjusted index to rise 1.5% month over month.

For this year, home price growth as measured by the 20-city index is expected to slow to 20.6%, down from a record 21.2% annual increase in April. At 10 a.m. ET, the Census Bureau is expected to say sales of new single-family homes fell 5.2% in June to a seasonally adjusted annual rate of 660,000. This will be the fifth decline in six months as rising mortgage rates and record prices have kept many homebuyers off the market. For context, the April reading of 629,000 was the lowest in two years.

Sign for sale outside a house in Illinois

Home for sale in Geneva, Illinois, June 23, 2009. (Reuters/Jeff Hynes/Reuters Photo)

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Also at 10 AM ET, the Conference Board will release its Consumer Sentiment Index for July. It is expected to fall a point and a half, the third consecutive monthly decline, to 97.2, the lowest level since February 2021. Confidence has fallen sharply from its post-pandemic high of 128.9 in June last year due to inflation concerns.

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