By Dhirendra Tripathi
The Dow Jones Industrial Average ended flat, however. The so-called meme stocks GameStop Corp (NYSE: GME ) surged 14% and AMC Entertainment Holdings Inc (NYSE: AMC ) jumped 18% after last week’s tumble in crypto may be encouraging retail traders to move back into stocks rather than digital currencies, for the time being.
Amazon.com Inc (NASDAQ: AMZN ) confirmed its $8.5 billion deal to buy the Hollywood studio MGM Holdings, a deal that has been rumored for weeks as streaming giants jockey for dominance.
The deal is likely to spark continued consolidation in the media and entertainment industry, coming closely after AT&T Inc (NYSE: T )’s planned combination of its WarnerMedia withDiscovery Inc Class A (NASDAQ: DISCA ).
In the energy sector, an activist shareholder succeeded in winning two board seats at Exxon Mobil Corp (NYSE: XOM )after opposing the oil giant’s climate strategy.
Here are three things that could affect markets tomorrow:
1. Retail roll-out
More retailers are out with their quarterly results on Thursday. Electronics store Best Buy Co Inc (NYSE: BBY ) is expected to report earnings per share of $1.34 on revenue of $10.29 billion, according to analysts tracked by Investing.com
Discounter Dollar General Corporation (NYSE: DG ) is expected to report EPS of $2.13 on revenue of $8.14 billion, while warehouse club Costco Wholesale Corp (NASDAQ: COST ) is expected to report EPS of $2.31 on revenue of $43.64 billion.
2. Salesforce earnings
Tech earnings are also continuing to trickle out. Relationship management software maker Salesforce.com Inc (NYSE: CRM ) is expected to report EPS of 88 cents on revenue of $5.89 billion, according to analysts tracked by Investing.com
3. More housing-related data
Earlier this week, data showed housing prices at their highest in 13 years, with tight supply and high demand. On Thursday at 10:00 AM ET (1400 GMT), we get more data that will give us a window into trends for May and June. The National Association of Realtors’ index of pending home sales for April is expected to rise 0.8% from the prior month.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.