The Day Ahead: Earnings Season Continues, New Homes Data & Microsoft's AI Event

Closing Bell

Welcome back to closing Bell. I'm Cheddar News, everyone. I'm Kristen shoulder here at the stock exchange. Let's take a look ahead the event. Sure to move markets tomorrow. While fourth quarter earnings season coming to a close, we do have some big companies on tap to report results. So tomorrow they include the home furnishing giant Williams Sonoma Shipping Services company fedex, the discount retailer, Dollar General and the cannabis marketplace company Leaf Lee investors will be closely monitoring results from fedex after the markets closed and the street expecting it to post a year on year decline in earnings on lower sales. While the company reporting persistent weak demand as consumers pinched their wallets amid high inflation that likely continued in the past quarter also faces increased competition in China as Beijing aims to build its own global logistics company. So the stock closely watched as a barometer of the broader economy and global demand. We'll also get some economic data on tap weekly jobless claims, housing starts and building permits for the month of February. We'll keep an eye on data for new home construction after starts for single family homes did drop significantly in January amid major headwinds and the struggling housing space that represented a more than 27% drop from the same month in 2022. Now, the biggest declines coming in the northeast and on the West Coast with the latter likely affected by extreme weather conditions in California. And Microsoft will hold its special event tomorrow to showcase its GPT like A I app and how it's gonna work into its programs called The Future of Work with AI CEO. Satya Nadella is going to demonstrate how it will work. Its well known apps like teams, word and outlook. The company teasing that people will want to tune in to quote, learn how ai is going to power a whole new way of working for every person and organization. Well, the event will be streamlined live on its website starting at 11 AM Eastern. We'll have coverage of the highlights here on closing bell.