Welcome back to closing Bell and Cheddar News. Everyone
. Let's take a look at our segment next week
on the street where we do dive into the events
. Sure to move markets tomorrow a lot on tap
including the fed decision. All eyes on the central
bank with its next monetary policy meeting on tap on
Wednesday and an interest rate decision. So traders are
pricing and consensus that the fed will move forward with
raising rates to the tune of a quarter of a
percentage point as was previously expected just about a week
ago before two big bank collapses. So that will
be key to watch inflation obviously still an issue based
on the latest data, but based on market action
this week, investors Wall Street is hoping that the
central bank is gonna pause if not reverse course sometime
soon. But massive questions about the implications for that
. As our markets guest was saying today, if
the fed decides to let the stock market rip,
what does that do for inflation? I mean inflation
already entrenched the fed really challenging, having a very
challenging time bringing it down and letting the stock market
rip. It's gonna make that a bigger headache.
So the feds quest to curb inflation Getting back down
to 2%. We've got a ways to go from
a 6% gain that we saw in February. According
to the data services sector prices, there is certainly
a little bit more stickier than we see with some
of these goods prices that have actually been slowing down
. We also have a slew of big names reporting
results next week including sports apparel giant Nike cereal maker
, General Mills, video game retailer, Gamestop and
pet supply store. Chewy. The street is going
to closely watch the earnings from Nike reporting on Tuesday
and I was expecting the company to report a year
on year decline in earnings per share on slightly higher
sales. So in the latest quarter, the company
likely seeing strong demand for its new products and growth
in its digital and direct to consumer businesses. But
at the same time, analysts saying it was hit
by supply chain issues, weakening demand in China amid
lockdowns and high cost weighing on his performance. Plus
tiktok, Ceo Shou Zi Chew appearing before Congress for
the first time. Likely to face tough questions on
the apps. Ties to the Chinese government and its
handling of private user data choose testimony coming is more
lawmakers are questioning its parent company by dances ties to
Beijing. Recently the Biden administration threatening to ban tiktok
in the U S if it doesn't split with its
Chinese owners choose going to speak at 10 AM Eastern
on Thursday, March 23rd during a House Energy and
Commerce Committee hearing. We also get some economic data
on top next week, especially from the housing sector
existing home sales data, new home sales data for
the month of February on Tuesday and Thursday respectively.
Coming after sales of previously owned homes dropped by about
7/10 of a percent in January. The slowest rate
that we had seen since 2010 as higher rates did
keep buyers on the sidelines. The biggest declines in
the Midwest and the northeast.