Today's Stock Market News & Events: 9/21/2022 – MarketBeat

This post was originally published on this site

Today existing home sales data is on tap along with an interest rate decision from the U.S. Federal Reserve and a statement from Fed Chair Jerome Powell. 

The following public companies are slated to release corporate earnings today, September 21:

General Mills Inc. (NYSE:GIS — $75.41) manufactures and markets branded consumer foods worldwide. General Mills will report its Q3 earnings of 2022 before the bell today.

H.B. Fuller Co. (NYSE:FUL — $60.67) formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products worldwide. H.B. Fuller will report its Q3 earnings of 2022 after the close today.

KB Home (NYSE:KBH — $28.66) operates as a homebuilding company in the United States. KB Home will report its Q3 earnings of 2022 after the close today.

Lennar Corp. (NYSE:LEN — $76.88) operates as a homebuilder primarily under the Lennar brand in the United States. Lennar will report its Q3 earnings of 2022 after the close today.

Steelcase Inc. (NYSE:SCS — $9.36) provides a portfolio of furniture and architectural products in the United States and internationally. Steelcase will report its Q3 earnings of 2022 after the close today. Group Ltd. (NASDAQ:TCOM — $26.70) operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. Group will report its Q3 earnings of 2022 after the close today.

Looking ahead to tomorrow, the usual initial and continuing weekly jobless claims data is due out as well as the U.S. current-account deficit (% of GDP), and leading economic indicators. 

All economic dates listed here are tentative and subject to change.

The latest Consumer Price Index (CPI) reading indicates that inflation may be peaking. But if you go to the grocery store or pay rent you’re aware that prices aren’t going down anytime soon. In fact, there’s growing sentiment that inflation will be sticky.

What does that mean for interest rates? One part of the Federal Reserve’s dual mandate is to keep inflation at or near its 2% target level. That means that it’s reasonable to suggest that the Fed is not done with rate hikes.

Rising interest rates generally spell trouble for equity investors. Businesses, like consumers, are affected by higher interest rates. Not to be overly simplistic, but hiring borrowing costs means lower earnings. And that means a lower stock price.

However, some stocks manage rising interest rates better than others. In this special presentation, we look at seven stocks that are built to outperform when interest rates are rising. And what’s even better, many of these stocks have business models that provide growth when the economy is firing on all cylinders.

View the “7 Stocks to Buy to Outrun Rising Interest Rates”.