© Reuters.
Investing.com — Stocks were mixed as investors awaited movement on debt ceiling talks in Washington.
The uncertainty over the ongoing negotiations has weighed on stocks, though technology shares were outperforming on the hopes that the is going to pause its interest rate increases at its June meeting.
President Joe Biden and House Speaker Kevin McCarthy had dispatched aides to hammer out the details of a final agreement to raise the nation’s debt ceiling and avoid the potential for a default on U.S. debt. The negotiations have gone on for days, with Biden and McCarthy expected to meet later on Monday to try and reach an agreement.
Even with a deal, Congress will have to scramble to get a bill written, scored, and voted on, with just days left before both chambers break for the holiday weekend. Treasury Secretary Janet Yellen has said June 1 is the deadline for a deal, after which time the U.S. runs out of options for continuing to pay its obligations.
At the same time, investors are looking ahead to inflation data later this week and a slew of earnings from retailers, which could provide clues on consumer spending habits.
Here are three things that could affect markets tomorrow:
1. Intuit earnings
Financial software maker Intuit Inc (NASDAQ:) is expected to report earnings per share of $8.49 on revenue of $6.09 billion.
2. Retail earnings
Lowe’s Companies Inc (NYSE:) is expected to report earnings per share of $3.44 on revenue of $21.6B, while AutoZone Inc (NYSE:) is expected to report earnings of $31.51 a share on revenue of $4.12B. Dick’s Sporting Goods Inc (NYSE:) is expected to report earnings of $3.18 a share on revenue of $2.8B, and BJ’s Wholesale Club Holdings Inc (NYSE:) is expected to report earnings of 84 cents on revenue of $4.8B.
3. Toll Brothers
Home builder Toll Brothers Inc (NYSE:) is expected to report earnings of $1.91 a share on revenue of $2.06B.
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