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Job openings, McCormick earnings, Cal-Maine Foods: 3 things to watch

Investing.com
·2 min read

Investing.com -- Stocks wobbled on Monday despite the end of a government shutdown crisis after lawmakers strike a last minute deal over the weekend.

There is still plenty of turmoil ahead, though it may prove to be more of a distraction for investors rather than a hurdle to cross. House Speaker Kevin McCarthy faces a potential challenge to his leadership this week, though it isn’t clear how much support there would be for such a move.

Investors are turning their attention to the start of the new month and quarter and the big slate of jobs data due out this week, including the latest reading on the number of job openings, due out Tuesday morning, followed by a report on growth in private payrolls, unemployment claims data for last week, both later this week, and Friday’s jobs report for September.

The jobs report comes as the Federal Reserve weighs whether to raise interest rates another time this year as it continues to battle inflation. Despite signs that prices are cooling, the labor market has held up. Analysts are expecting the economy added fewer jobs last month than the month before, but they are also anticipating a slight tick lower in the unemployment rate.

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Here are three things that could affect markets tomorrow:

1. Job openings

The Job Openings and Labor Turnover Survey is due out at 10:00 ET (14:00 GMT). Analysts are expecting a reading of 8.8 million job openings as of the last day of August, about the same as the prior month.

2. McCormick earnings

Spice and seasoning maker McCormick&Company Incorporated (NYSE:MKC) is expected to report earnings per share of 65 cents on revenue of $1.7 billion.

3. Cal-Maine Foods

Egg producer Cal-Maine Foods Inc (NASDAQ:CALM) is expected to report earnings per share of 32 cents on revenue of $473 million.

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