ADP Jobs, Home Sales, Walgreens: 3 Things to Watch By Investing.com

By Christiana Sciaudone

Investing.com — Financials recovered from Monday’s Archegos Capital-induced slide, but it wasn’t enough to push the major indexes higher. Now everybody’s waiting to see what President Joe Biden has up his sleeves for the next round of government spending.

  The S&P 500, Dow Jones Industrials and Nasdaq Composite all closed modestly lower on the day, but pared deeper losses from earlier in the session. Utilities and consumer staples led the way lower.   Biden will give a speech in Pittsburgh tomorrow in which he’s expected to outline a more than $3 trillion infrastructure package that will be paid for in large part with tax increases, the AP said.   Here are three things that could affect markets tomorrow:   1. Jobs preview

The ADP (NASDAQ:ADP) Research Institute will whet our appetite for employment data ahead of Friday’s nonfarm payrolls report for March. The number will likely show a significant pickup in hiring as lockdowns ease and weather improves. Consensus calls for a gain of 550,000 when the ADP number is released at 8:15 AM ET (1215 GMT).

2. Home sales

Pending home sales for February are also on tap. Bad weather is likely to have kept the number from rebounding from January’s 2.8% decline. The estimate is for another 2.9% drop when it’s released at 10:00 AM ET (1400 GMT).

3. Walgreens earnings

Walgreens Boots Alliance (NASDAQ:WBA) reports results for the first time under new CEO Rosalind Brewer. Analysts are looking for adjusted profit of $1.12 on sales of $36.54 billion. Also keep an eye on Lululemon Athletica Inc (NASDAQ:LULU) to see how it trades after reporting results after the close today.