© Reuters
Investing.com — Stocks were mixed on Tuesday amid continued uncertainty about the debt ceiling outcome despite a deal reached over the weekend.
House Speaker Kevin McCarthy reached the agreement with President Joe Biden, calling for limits on federal spending in 2024 and 2025, a raise in defense spending, reclaiming unused COVID funds already allocated, and taking back some of the funds approved to bolster the Internal Revenue Service. But some GOP lawmakers have vowed to vote against it, saying it doesn’t do enough to curb spending.
The House is rushing to vote on the deal this week so it can move to the Senate ahead of the June 5 deadline.
Later this week, investors will get the May , which could provide more insight into the state of the economy. That report will be closely watched by the , which is now expected to raise interest rates by another quarter of a percentage point when it meets next month. Just one week ago, futures traders put the probability of a rate hike lower than the probability of a pause.
Here are three things that could move markets tomorrow.
1. Job openings
Before Friday’s job report for May comes the report for the end of April, due out at 8:30 ET (12:30 GMT) tomorrow. Analysts expect the number to be 9.775 million, which would be up from the prior month.
2. Salesforce earnings
Salesforce Inc (NYSE:), the maker of financial and human resources software, is expected to report earnings per share of $1.61 on revenue of $8.18 billion.
3. Chewy earnings
The pet supplies retailer Chewy Inc (NYSE:) is expected to report a loss per share of about 4 cents, on revenue of $2.7B.
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