Home Sales, Deere, South Korea: 3 Things to Watch By Investing.com

By Christiana Sciaudone

Investing.com — Markets bounced back today thanks to those cheeky tech stocks.

The taper game is in full swing, with indications on Wednesday that the Fed’s starting to think about tapering bond purchases being countered by weak job numbers for April, themselves going contrary to the jobless claims that came out at the lowest yet in the pandemic earlier today. 

Bitcoin cut gains after the Treasury Department said it would require that any transfer worth $10,000 or more be reported to the Internal Revenue Service. In case you missed it, yesterday, billions of dollars were wiped off the total crypto market, leading to a plunge in BTC to $30,261. The crypto has since climbed back to $40,340.   

We’ll get insight on home sales tomorrow, along with some more earnings and a little diplomacy in Washington, D.C. 

Here are three things that could affect markets tomorrow:

1. Homes for sale

Existing home sales for April should show a slight improvement as the spring selling season gets going, though a lack of inventory will still work to keep numbers down and prices up. Consensus is for a monthly gain of 0.7% to 6.05 million. The numbers are due at 10:00 AM ET (1400 GMT).

2. Nothing runs like a…

Deere (NYSE:DE), which is one of the lone standouts reporting on Friday. Surging agriculture markets should help drive strong results for the farm-equipment maker. Estimates are for adjusted earnings of $4.47 a share on $10.3 billion of revenue.

3. A little Friday diplomacy

President Joe Biden meets with South Korean President Moon Jae-in, who becomes the second world leader to visit since Biden took office. Expect North Korea’s nuclear ambitions to be high on the list of topics discussed, as well as trade and vaccine sharing.