By Dhirendra Tripathic
Investing.com — Shares fell on Wednesday as Wall Street recorded mixed data on the US economic recovery, including worse-than-expected progress in jobs but improving demand for services.
ADP’The private payroll report shows that employers added 330,000 jobs in July, far fewer than the expected 695,000. The government’s own non-farm payroll report will be released Friday.
The Institute of Supply Management reported that its index of non-manufacturing activities reached 64.1 last month, from 60.1 in June, the highest level in its history.
Contributing to market sentiment on Wednesday, Federal Reserve vice chairman Richard Clarida noted that the economy is on track to meet the employment and inflation targets the Federal Reserve has set for raising interest rates.
But the news was also full of disturbing stories about the spread of the highly contagious Delta strain of the coronavirus. Cases and hospitalizations are on the rise, especially in areas of the South and California where vaccination rates have been relatively low.
In New York, the annual auto show was canceled for the second year and organizers cited peak cases of Covid. It is said to have started on August 20 at the Javits Center, a gigantic exhibition space that acted as a vaccination megasite in the spring.
The revenue will be rolled out further this week. Here are three things that could affect the markets tomorrow:
1. Pharma revenue
Covid-19 vaccine maker Moderna Inc (NASDAQ:MRNA) is expected to report second-quarter earnings per share of $5.96 on revenue of $4.21 billion. Hear what they say about their plans for an mRNA vaccine against malaria.
2. Home Decor Earnings
Buying stuff for your home was a major pandemic activity, but that definitely came to an end at some point. Home decor e-commerce site Wayfair Inc (NYSE:W) reports second-quarter revenue of $3.95 billion and earnings per share of $1.17, according to analysts tracked by Investing.com.
3. Fake Meat Results
Plant-based food producer Beyond Meat Inc (NASDAQ:BYND) is expected to post a loss of 22 cents per share and revenue of $141 million for the second quarter.