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.
A rally in oil boosted crude prices by nearly $3 per barrel or 5% from Monday’s close. Oil including Chevron (NYSE:
) and Exxon (NYSE:
) Mobile report quarterly earnings tomorrow morning.
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.
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.