Sam Boughedda

Investing.com – U.S. stocks gained on Tuesday as the Federal Reserve kicked off its policy meeting, pushing bank and energy stocks higher.

The Fed will announce its interest rate decision Wednesday at 2 pm ET. Many people expect a slight jump of half a point, however, it will also provide some economic analysis. Jerome Powell, Fed Chair will offer more insights during the press conference at 2:30 pm.

Investors are hoping Powell’s words and the Fed’s data will set the tone for the next couple of months as the Fed starts to taper its giant portfolio of bonds alongside the rate hikes in order to cool inflation. Powell said that the Fed expects to see a soft landing in the next few months.

The jobs report for April will be released later in the week to show the state of the labor market. Although there are approximately 11.5million job opportunities in America, unemployment remains at a multi-decade high. Even with rising wages, some companies still have difficulty attracting employees despite flexible work conditions and sometimes even higher salaries.

Oil investors await the Organization of the Petroleum Exporting Countries (OPEC) meeting later this week. It coincides with earnings reports from major oil producers Shell (LON;) and ConocoPhillips, (NYSE:) respectively.

These are the three factors that will impact markets tomorrow.

1. Earnings from CVS

CVS Health Corp (NYSE 🙂 will release earnings prior to the opening bell on Wednesday. After surpassing revenue expectations and earnings, the company’s previous release was a success. Investors are hoping that they will deliver another win with polled analysts. Investing.comEarnings per share expected to be $2.16 for $75.54 trillion in revenue

2. Travel rebound

Booking Holdings Inc, a travel booking company (NASDAQ:), will release its earnings Wednesday after the close. Analysts anticipate earnings to be $0.88 on revenues of $2.53billion. As the recovery from travel continues, investors can expect the company to report earnings of $0.88 on revenue of $2.53 billion.

3. Uber outlook

Uber Technologies Inc Earnings for the latest quarter are also being reported by (NYSE:). Uber is expected to report a $0.27 per share loss on $6.08 billion in revenue, according to polls.