Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Shell Earnings, Shopify Outlook, Beer Earnings: 3 Things to Watch

Published 04/05/2022, 21:02
Updated 04/05/2022, 21:02
© Reuters.

© Reuters.

By Sam Boughedda

Investing.com – U.S. stocks surged heading into the closing bell on Wednesday, in a relief rally after Federal Reserve Chair Jerome Powell put to rest concerns about even bigger rate increases.

The Fed, as expected, raised the benchmark interest rate by a half-point and said it would start tapering its $9 trillion bond portfolio June 1. But Powell told a reporter during a press conference that a 75-point hike was not under consideration.

That perhaps signals the central bank isn’t going to be as aggressive as some thought in trying to curb inflation, which can tip the economy into recession.

Powell remarked on the tightness of the labor market, and the government’s report on April jobs due out on Friday could add some color to that view. Analysts tracked by Investing.com expect the report will show the addition of 391,000 jobs last month.

Companies such as Uber Technologies Inc (NYSE:UBER) and LYFT Inc (NASDAQ:LYFT), the rival ride-hailing apps – are talking about spending on incentives to bring back workers, in their case drivers, amid the demand for workers. Elsewhere, workers at big tech companies such as Apple Inc (NASDAQ:AAPL) and Amazon.com Inc (NASDAQ:AMZN) have been trying to organize unions, following in the footsteps of workers at Starbucks Corporation (NASDAQ:SBUX)

Oil is also surging ahead of Thursday’s meeting of the Organization of the Petroleum Exporting Countries and their allies to talk about production levels. So far, the cartel has tried to gradually add supply, though a new proposal by the European Union to ban Russian imports could complicate matters.

Oil majors Shell (LON:RDSa) and ConocoPhillips (NYSE:COP) report on Thursday, as well.

Here are three things that could affect markets tomorrow:

1. Shell earnings

With oil prices recently surging, analysts polled by Investing.com expect Shell PLC ADR (NYSE:SHEL) to post earnings of $2.18 on revenue of $80.45 billion. Analysts will be listening to its comments on Russia operations.

2. Shopify outlook

Meanwhile, e-commerce giant Shopify Inc (NYSE:SHOP) is expected to post earnings of 64 cents per share on revenue of $1.24 billion.

3. Beer earnings

And finally, analysts see brewing company Anheuser Busch Inbev (EBR:ABI) NV ADR (NYSE:BUD)'s earnings coming in at 48 cents per share on revenue of $13.12 billion.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.