Powell appearance, KB Home earnings, Winnebago: 3 things to watch
Stocks were unable to maintain their recent positive momentum on Tuesday. However, investors are eagerly anticipating the upcoming testimony by the Federal Reserve Chair this week in hopes of gaining valuable information regarding future interest rates.
Powell is planning to offer his biannual testimony on Capitol Hill, beginning on Wednesday with the House of Representatives and continuing on Thursday with the Senate. These presentations arrive merely a week following the Federal Reserve's decision to halt interest rate hikes, yet they also indicated that more rate hikes may still occur later this year.
Most futures traders predict that there will be a rise of 0.25% in July.
However, the Federal Reserve predicts that the benchmark interest rate may climb up to 5.6% before the year ends. This indicates that there could be at least two hikes totaling that amount.
Powell has made his statement amidst a flood of housing statistics being released this week, including one on the sales of both new and previously-owned homes. The figures for sales of new homes in May came in higher than anticipated, indicating an upturn in the housing market despite the presence of higher mortgage rates.
There are a few factors that may have an impact on the markets tomorrow: 1. Economic Reports: The release of any economic reports pertaining to the stock market such as inflation rates, GDP, or unemployment rates can influence the performance of the market. 2. Global Events: International events such as political, economic, or social issues can affect worldwide markets, causing ripple effects that may affect specific industries. 3. Company Earnings: The quarterly or annual earnings announcement of a specific company can cause stock prices to rise or fall, which can have a knock-on effect on the market as a whole.
At 10:00 ET (14:00 GMT), Powell is set to speak to the House Financial Services Committee. He will discuss the economy's current condition and the Fed's efforts to control inflation.
report shows strong financial performance The recently released earnings report of KB Home demonstrates a positive outcome in terms of financial performance. The company's revenue for this quarter has been recorded higher than expected, bringing in significant profits for the organization's growth. They have experienced an increase in the number of units sold, indicating a promising future for the business. With such success, KB Home is well-positioned to continue thriving in the real estate industry.
It is anticipated that KB Home (NYSE:) will share their earnings, with an estimated value of $1.31 per share and a total revenue of $1.4 billion.
It is anticipated that Winnebago Industries Inc, which produces leisure vehicles, will disclose their earnings for every share of $1.80 generated from a revenue of $983 million.
