Home prices, software earnings, Hewlett Packard results: 3 things to watch

By Liz Moyer

Investing.com -- Stocks fell on Monday as protests in China about the government's strict Covid lockdown policies sparked fears of a global growth slowdown.

But hawkish words from Federal Reserve officials also weighed on markets. The officials said interest rates would have to be higher for longer, as investors have been hoping for a pivot or at least a pause sooner rather than later.

This weekend kicked off the official holiday shopping season in the U.S. and online sales on Black Friday hit a record, which is probably good news to retailers. But inflation is keeping some shoppers from spending on luxuries or extra gifts, and the next few weeks will demonstrate the strength of consumer spending heading into the end of the year.

Investors are looking to this Friday's jobs report for November but there are other economic data due out this week, including job openings, private payrolls, and personal consumption and spending.

Fed Chief Jerome Powell will talk on Wednesday but then the Fed enters a quiet period before the central bank's next policy meeting in December.

Here are three things that could affect markets tomorrow:

1. Home prices

The S&P Case-Shiller home price index is due out at 9:00 ET (14:00 GMT). Analysts expect the index to rise 10.8% compared with the 13.1% gain in the prior month as the housing market continues to cool.

2. Software earnings

Intuit Inc (NASDAQ:INTU)is expected to report earnings per share of $1.19 on revenue of $2.5 billion, while Workday Inc (NASDAQ:WDAY) is expected to report EPS of 84 cents on revenue of $1.6 billion and Crowdstrike Holdings Inc (NASDAQ:CRWD) is expected to report EPS of 31 cents on revenue of $575 million.

3. Hewlett Packard earnings

HP Inc (NYSE:HPQ) is expected to report profit of 56 cents a share on revenue of $7.37 billion.

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