By Christiana Sciaudone
Investing.com — Facebook (NASDAQ:FB) helped guide the market higher, surging after earnings surprised the market.
The major indices rose amid growth in the U.S. gross domestic product that accelerated in the first quarter and jobless claims that are the lowest since the pandemic shattered the U.S. economy in March 2020.
Apple (NASDAQ:AAPL) was little changed despite reporting exceptional sales for the quarter. On the downside, eBay (NASDAQ:EBAY) tumbled as it gave guidance that failed to inspire. Amazon (NASDAQ:AMZN)’s up next, reporting after the bell.
Here are three things that could affect markets tomorrow:
The Commerce Department will publish data on personal income and spending for March, which include the personal consumption expenditures (PCE) inflation figures, at 8:30 AM ET (1230 GMT) Friday. The consensus is that the report will show the inflation metric inched up 0.3%, after rising by 0.1% a month earlier. On an annualized basis, core PCE prices are expected to rise 1.8%.
Personal Spending, which measures the change in the inflation-adjusted value of all spending by consumers, is expected to increase 4.1% versus the previous drop of 1% in February. That drops at 8:30AM ET Friday. Personal Income may have soared 20% in March from a 7% drop for the previous month.
3. Another tech beat?
Amazon reports earnings tonight, on the heels of peers like Facebook and Apple that blew it out of the water. Can Amazon do that same? Analysts forecast earnings per share of $9.49 on sales of $104.5 billion. Indeed, the company beat, with EPS of $15.79 on revenue of $108.5 billion.
Tomorrow morning, look for oil earnings to publish.
Inflation, Personal Spending, Amazon: 3 Things to Watch
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