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Market Domination Overtime's Julie Hyman and Josh Lipton preview the biggest economic data and market stories to come on Thursday, May 8, including earnings out from Coinbase Global (COIN), ConocoPhillips (COP), and Anheuser-Busch Inbev (BUD), as well as weekly updates on initial jobless claims and US mortgage rates.
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Time now for to watch Thursday, May 8th, sponsored by Tastytrade. Starting off on the earnings front, we're going to be getting another round of earnings tomorrow. Among them are Shopify, Anheiser-Busch, and ConocoPhillips. Shopify announcing results for the first quarter before the markets open. Analysts expecting Shopify's Q1 results to look strong from customers buying early to avoid tariffs. Investors will listen closely for any commentary on guidance and how the surge in Q1 can impact the coming quarters.
Taking a look at the labor force, initial jobless claims data is out in the morning. Economists forecast jobless claims will decrease to 230,000 compared to the week prior, signaling that layoffs are slowing down and that the labor market is showing some resilience.
And moving over to housing, weekly mortgage rate data from Freddie Mac coming out in the afternoon. Last week's reading fell to 6.76%, marking the second consecutive week of decline.
