Good morning contrarians! Russia-Ukraine continues to hang over the market. Yesterday we had a nice relief rally. Was that it now? Nobody knows, which is why this is still very much front and center in investors’ minds. Earnings are a bit of a distraction but only really for individual stocks.
On that note, Hilton Worldwide (
$HLT) just missed on EPS but beat revenues while Owens Corning (
$OC) beat both top- and bottom-line estimates and announced a stock buyback to boot. Kraft Heinz (
$KHC) and Shopify (
$SHOP) are also due to report before the open at 0930. After the close at 1600 we get Cisco (
$CSCO), Nvidia (
$NVDA), Applied Materials (
$AMAT), Marathon Oil (
$MRO), TripAdvisor (
$TRIP), AIG (
$AIG), DoorDash (
$DASH), and Cheesecake Factory (
$CAKE).
Underneath the surface, retail sales (out at 0830) could create a fresh point of concern if they come in weaker than anticipated.
And of course we have the Fed looming, but not sure what the FOMC minutes (out at 1400) will do about that. Fed officials have made their stances pretty clear in public comments these last couple of weeks.
Add it all up and it could make for a pretty quiet day — Russia-Ukraine notwithstanding.
Full briefing and podcast here: