Lennar profit, retail sales, oil stocks: 3 things to watch out for

By Dhirendra Tripathi

Investing.com – Tech stocks weighed on the broader market on Tuesday after more inflation data fueled the flames of fear over the Federal Reserve’s response.

Investors have held back growth stocks, which lose their luster when interest rates rise because the dollar loses value in the future.

Apple Inc (NASDAQ: AAPL) fell for another day, not crossing the $ 3 trillion mark in market value. There is still time, of course, with sales of new iPhones expected for the holidays, some analysts say, and the expected introduction of an augmented reality headset next year.

Producer prices rose 0.8% in November, which is higher than the expected gain of 0.5%. For the year, producer prices rose 9.6%, more fodder for those who think inflation is becoming a long-term problem.

The Fed’s policy-making meeting ends Wednesday, with officials expected to announce that they will step up efforts to cut bond purchases by doubling the cuts announced in November. A cut of $ 30 billion per month could end the program entirely by spring, paving the way for the Fed to raise rates.

Aside from the Fed’s 2:00 p.m. ET Wednesday announcement, it’s an otherwise quiet time on the calendar. Here are three things that could affect the markets tomorrow:

1. Earnings of home builders

Lennar Corporation (NYSE: LEN) will release its fourth quarter figures on Wednesday. The company is expected to post earnings per share of $ 4.15 on revenue of $ 8.51 billion, according to analysts tracked by Investing.com.

2. Retail sales

Despite Black Friday sales, retail sales are expected to grow only 0.8% month-on-month in November, less than half of October’s 1.7% growth. The data is released at 8:30 a.m. ET.

3. Oil stocks

Oil prices have fallen due to global growth concerns over the lightning-fast spread of the Omicron variant of Covid-19. Analysts look for inventory reports to gauge supply versus demand.

Crude inventories are expected to fall 2.6 million barrels in the week to December 10. Inventories had fallen by 240,000 barrels the previous week. The Energy Information Administration will release the data Wednesday at 10:30 am ET.

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