The Day Ahead: Fed Policy Meeting, Earnings Update & Existing Homes Sales Data

Closing Bell

The Day Ahead: Fed Policy Meeting, Earnings Update & More Homes Sales Data

All right, let's take a look ahead of the event. Sure to move markets tomorrow. The fed decision on top this week, all eyes on the central bank with its next monetary policy meeting kicking off on Tuesday as it always does ahead of that interest rate decision that will get on Wednesday at two p.m. Well, traders pricing nearly an 80% chance that the fed will move forward with raising rates by a quarter of a percentage point based on market action last week. Many on Wall Street are hoping the central bank will at least pause if not reverse its course on rates soon. Now, despite those hopes, the fed's quest to curb inflation may still have a long way to go. According to recent data which shows that higher prices driven by the services sector are stickier than previously expected. It's that services sector that's been hard to come down. We're also gonna have a slew of big names reporting earnings tomorrow, earnings season kind of never really ends. We've got sports apparel giant Nike along with gamestop and Tencent music entertainment. The street will closely watch the earnings from Nike. Analysts expecting the company to report a year on year decline in earnings per share on slightly higher revenue. The latest court of the company likely seen strong demand for its new products and growth in its digital and direct to consumer businesses. But at the same time, analysts saying it was hit by supply chain issues. We can demand in China amid lockdowns and high costs weighing on its performance. We're also gonna get some economic data out tomorrow specifically from the struggling housing sector existing home sales data from the month of February due in the morning comes after sales of previously owned homes dropped by 7/10 of a percent in January. The slowest rate since 2010 as the sky high mortgage rates are keeping would be home buyers on the sidelines while the largest declines seen in the Midwest and the northeast.