Stock market futures are pointing to a muted open to kick off the day after a solid showing last week.
Call it flat-ish at the moment, but let’s not discount last week’s moves – the Dow snapped four straight weeks of losses, while the Nasdaq popped a shade over 2.5 per cent. We’re also staring down some more commentary from U.S. Fed Chair Jay Powell, which could set the tone for trading this week – he’s before Congress tomorrow and Wednesday, where we’ll be looking for commentary on the central bank’s view of the inflationary picture and the path of future rates increases.
Adjusted earnings per share came in at $0.90 against an estimate of $1.96, but it’s probably the commentary in the release that’s more interesting, given the macro environment: the company says that given a potential recession, it’s got some concerns over consumer spending. That’s something, just given ecommerce growth was a big driver for the company during the pandemic as consumers shopped from home out of necessity.It appears we’ve cleared an impasse in the fight over at First Capital.
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