Investing.com -- Tech stocks slumped on Thursday as investors renewed their fears about interest rates staying higher for longer.
Stronger than expected data is causing the anxiety, including Thursday's initial jobless claims reading for last week that was lower than expected. The Federal Reserve has been closely watching the tightness in the labor market, worried that it could cause inflationary pressure.
While futures traders expect the Fed to hold steady on rates when it meets later this month, they are divided about what the Fed might do later this year. Some see the chance that another rate hike could come in November. The Fed has been watching the data and said it will rely on the numbers to help make that decision.
Still in recent weeks, investors have gotten more optimistic that the Fed is close to the end of its tightening.
A slew of Fed speakers in the coming days could shed light on where the policy makers stand heading into the late-September meeting.
Here are three things that could affect markets tomorrow:
1. Kroger earnings
The grocery chain Kroger Company (NYSE:KR) is expected to report earnings per share of 91 cents on revenue of $34.1 billion.
2. Wholesale inventories
Wholesale inventories for July are due out at 10:00 ET (14:00 GMT). Analysts expect the monthly reading to fall 0.1%.
3. Consumer credit
The consumer credit reading for July is due out at 15:00 ET. Analysts expect it to be $16 billion.