Cisco Earnings, Nvidia Outlook, Retail Sales: 3 Things to Watch By

By Dhirendra Tripathi

-- Stocks bounced on Tuesday as diplomatic efforts to resolve the Ukraine-Russia tensions continued and Russia claimed to withdraw some troops from the border.

Western officials said they still hadn’t seen proof that those withdrawals were taking place, but appeared eager to continue to engage Russia in talks. Meanwhile, investors took the opportunity to put some risk back on.

Mega cap growth stocks such as Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) rose on Tuesday. 

Producer price data showed a greater than expected increase in January, another sign of lingering inflationary pressures. On Wednesday the Federal Reserve will reveal the minutes from its last meeting where policy makers no doubt debated the pace of the tightening expected to start in March.

Investors are convinced it will raise rates 50 points next month. 

Fears about the swiftness of rate hikes have taken a toll on the tech sector this year, with Nasdaq down 10%, according to Reuters. 

Apart from tomorrow’s Fed minutes, the report on retail sales is expected out. Here are three things that could affect markets tomorrow.

1. Cisco earnings

Cisco Systems Inc (NASDAQ:CSCO) is expected to report a second-quarter profit per share of 81 cents on revenue of $12.66 billion, according to analysts tracked by . Analysts will be listening for its outlook on the cloud transformation.

2. Nvidia earnings

Chip maker NVIDIA Corporation (NASDAQ:NVDA)’s fourth-quarter revenue is seen touching $7.41 billion with profit per share at $1.22. Analysts will be listening for its outlook on chip production and the global supply shortage.

3. Retail sales

Retail sales in the U.S. are seen rising by 2% month-on-month in January after their higher-than-expected fall of 1.9% in December. The data are expected out at 8:30 AM ET.

 

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