CarMax earnings, Albertsons results, small biz optimism: 3 things to watch

By Liz Moyer

Investing.com -- Stocks were subdued on Monday, with the S&P 500 flat heading into the final minutes of trading as investors braced for a slew of inflation data coming this week.

The latest report on the consumer price index as well as one on producer prices are due mid-week, with investors already worried that last Friday's job report for March would encourage the Federal Reserve to continue to raise interest rates. The economy created 236,000 jobs last month, just a tick below expectations for 239,000 but a sign of a still-tight labor market.

Consumer prices are expected to show continued signs of slowing, though analysts expect that core prices for the year through March could inch higher.

Futures traders are betting that the Fed will raise rates by a quarter of a percentage point when it meets next month. On Wednesday, the minutes of its March meeting could reveal what policymakers are thinking as they head into that meeting armed with the latest data on jobs and inflation.

Banks kick off first-quarter earnings season on Friday, and what executives have to say about the state of business and consumer lending, credit quality and overall demand could help set the tone for the rest of the month.

Here are three things that could affect markets tomorrow:

1. Carmax earnings

The used car seller CarMax Inc (NYSE:KMX) is expected to report earnings per share of 19 cents on revenue of $6.1 billion as the industry tries to reset after a surge in buying during the pandemic that has since faded.

2. Albertsons results

Grocery giant Albertsons Companies (NYSE:ACI) is expected to report earnings per share of 68 cents on revenue of $18.2B. 

3. Small business optimism

The National Federation of Independent Business releases its latest optimism index for March at 6:00 ET (10:00 GMT). Analysts expect it to tick down to 89 from the prior reading of 90.9.