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Investing.com — The S&P 500 and NASDAQ Compositecontinued their record-setting streaks while the Dow Jones Industrial Average was mostly flat on Wednesday. Nasdaq was on track for another record-setting closing high in the final minutes of trading.
Investors bought technology stocks, perhaps encouraged by a disappointing private payrolls report for August that suggested the Federal Reserve didn’t have to rush to end stimulus.
Apple Inc (NASDAQ:AAPL) notched a second record high this week.
U.S. manufacturing activity unexpectedly picked up in August with strong order growth. Earlier in the day, other data showed that Asian and European factory activity lost momentum last month.
Oil prices dipped after major oil producing nations agreed to stick to gradual output increases, while analysts continue to assess the damage to the industry from Hurricane Ida. Restarting refineries shut by the storm could take weeks.
Here are three things that could affect markets tomorrow:
1. Food earnings
Hormel Foods Corporation (NYSE:HRL)reports earnings on Thursday amid supply chain issues in the food industry and rising input costs. It is expected to announce earnings per share of 39 cents on revenue of $2.69 billion, according to analysts tracked by Investing.com
2. Chip earnings
Speaking of supply chain bottlenecks, the chip industry has been dealing with a widespread shortage of product, affecting the manufacture of personal electronic devices and autos, among other things. On Thursday analysts will be listening for an update from chip maker Broadcom Inc (NASDAQ:AVGO) which is seen posting revenue of $6.76 billion and earnings per share of $6.88 for the third quarter.
3. Word from the pandemic winner
DocuSign (NASDAQ:DOCU) got a big boost during last year’s remote working trend, and analysts want to hear what its plans are now that companies are starting to bring employees back to the office. It is seen clocking an EPS of 40 cents on revenue of $488.71 million in the second quarter.
