May PPI, Adobe Q2 earnings, jobless claims: What to Watch
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Market Domination Overtime hosts Julie Hyman and Josh Lipton preview the top market stories and headlines Wall Street will be paying attention to tomorrow, Thursday, June 12, including May's Producer Price Index (PPI) print, corporate earnings from Adobe (ADBE) and RH (RH), and this week's latest data on initial jobless claims.
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Time now for what to watch Thursday, June 12th, starting off on the economy, the producer price index. That's coming out in the morning after wholesale inflation fell in April. Economist forecasting prices to rise 0.2% for total PPI and 0.3% for core PPI on a month-over-month basis. The new data coming after this morning's Consumer Price Index, Consumer Prices rising less than expected in May.
Moving over to earnings, we'll be getting some reports including Adobe, RH, and Lovesac. Adobe announcing results for the second quarter after the markets closed. Analysts expect growth expectations to be low driven by a slowdown in creative cloud subscriptions. Analysts also anticipate year-over-year revenue growth will decelerate for the fifth straight quarter.
And taking a look at jobs, weekly initial jobless claims data is coming out in the morning. Economist see that number dipping slightly to 242,000, meaning fewer people filed for unemployment benefits compared to the week prior and that the job market continues to show resiliency.