Stock Groups

3 Things to Watch -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com – Stocks surged on Wednesday on little new news, while oil prices plunged more than 10%.

Investors plowed back into bank and tech stocks despite next week’s Federal Reserve meeting, which is almost certain to result in the first of several interest rate increases. Russia’s war in Ukraine continued on as well.

Big tech stocks such as Amazon.com (NASDAQ:), Alphabet (NASDAQ:) and Microsoft (NASDAQ:) helped lift the S&P as well as the Nasdaq, which rose 3.5% with minutes left in the trading session.

The price of oil dropped to near $109 per barrel last week after it spiked to $130/barrel earlier in the week. There were concerns that higher energy costs would slow economic growth, and harm industries such as tourism and leisure.

More companies quit operations in Russia amid a Western pullback after Russia’s invasion of Ukraine. As part of the spending bill, which would allow for open government by the United States of America, the House had to vote on an aid package that included nearly $14 billion in Ukraine.

Three things could impact the markets in tomorrow’s future:

1. Earnings from Rivian

Rivian Automobile Inc (NASDAQ) will report its earnings on Thursday after the close. According to analysts at Investing.com, the company is likely to post a $1.65 loss per share on $60.54m in revenue.

2. Earnings from Oracle

Oracle Corporation (NYSE) reports after Thursday’s markets close. Market analysts are polled. Investing.comFor $10.51 Billion in revenue, we forecast earnings per share of $1.18.

3. Data on CPI

On Thursday, the US will also submit data. CPI is expected to be 0.8% month-on-month in February, according to analysts.

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