By Dhirendra Tripathi
Investing.com -- Stocks roared back on Monday after comments from public health officials that the Omicron variant of Covid-19 might be milder than feared, setting off cyclical and tech stocks.
The Dow Jones Industrial Average was headed to one of its best days of the year with about half-hour of trading left in the U.S. session.
Each of the S&P 500’s 11 sectors were positive, led by financials, industrials, and energy, according to Reuters.
But with a light week for major data and a quiet spot on the earnings calendar, the catalyst moving stocks appears to be sentiment about Covid and what the Federal Reserve will do at its policy meeting next week.
Oil surged 4% on Monday.
Market watchers are expecting the Fed to move not only to reduce its bond buying program, which it finally signaled in November, but to raise rates starting next year.
The next data after last week’s mixed jobs report will be the consumer price index and inflation readings, both due out Friday.
Here are three things that could affect markets tomorrow:
1. AutoZone earnings
One pandemic trend was clear: People bought cars. But what happens when the music stops? AutoZone Inc (NYSE: AZO ) will report its first-quarter earnings Tuesday. The auto parts distributor is expected to clock a profit per share of $20.89 on revenue of $3.37 billion.
2. Toll Brothers (NYSE: TOL ) earnings
Housing has been among the hottest sectors. Toll Brothers is seen reporting revenue of $2.9 billion in the fourth quarter with EPS coming in at $2.48, according to analysts tracked by Investing.com. Analysts will be listening for the company’s outlook on supply and labor issues.
3. Stitch Fix earnings
Talk about another pandemic trend: Shopping online and having bundles of products delivered. Stitch Fix (NASDAQ: SFIX )’s first-quarter revenue is seen at $571.75 million with a loss per share of 13 cents.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.