
By Liz Moyer
Investing.com -- Stocks were stronger heading into the close after Federal Reserve Chair Jerome Powell said a "disinflation" process has begun but further rate increases are still appropriate.
Investors have been hoping for a sign that the Fed is getting close to pausing its rate increases. But on Tuesday Powell pointed to the January jobs report, which showed the economy added a far greater than expected half a million jobs in the month. Powell said that the report showed that the process of cooling the economy is going to take "a significant period of time."
Futures traders are overwhelmingly betting the Fed will raise rates another quarter of a percentage point when it meets next month, heading toward a topping out of the terminal rate near 5%.
Inflation is easing in the goods sector and in housing but there is more work to be done, he said. Services inflation is still too high.
Several more Fed officials are scheduled for appearances and speeches this week, and on Friday, investors get the first reading of February consumer sentiment from the University of Michigan. The number is expected to inch up to 65 from 64.9.
Here are three things that could affect markets tomorrow:
1. Walt Disney earnings
Walt Disney Company (NYSE:DIS) is expected to report earnings per share of 79 cents on revenue of $23.4 billion. Analysts will be listening in on Bob Iger's first quarterly earnings call since returning to the entertainment giant as CEO.
2. CVS Health earnings
Health care giant CVS Health Corp (NYSE:CVS) is expected to report earnings per share of $1.92 on revenue of $76.3 billion. It is reportedly pursuing a deal to acquire primary care center operator Oak Street Health.
3. Uber Technologies
The ride-hailing app Uber Technologies Inc (NYSE:UBER) is expected to report a 14-cent a share loss on revenue of $8.5 billion.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.