By Liz Moyer
Investing.com — Stocks rose on Monday but investors were focused on the outcome of the midterm election on Tuesday and what it means for control of Congress in the next term.
A split government could be the answer, with a Democrat in the White House and either one or both chambers of Congress controlled by Republicans. That generally means gridlock would reign in Washington, making it harder for President Joe Biden to push his agenda, which still includes social spending programs.
Investors are also focused on Thursday’s inflation report, which is expected to show the consumer price index ticked lower from October last year, to 6.5% on a core basis, which excludes food and energy, and 8% overall. Last month, was 6.6%, while the was 8.2%.
Thursday also brings the latest report on weekly .
The Federal Reserve is closely following the data on inflation and the labor market as it decides which direction to take interest rates toward at its December meeting. After raising its a 0.75 percentage point at each of its last four meetings, it could decide to raise by a smaller half-point amount.
Here are three things that could affect markets tomorrow
1. Walt Disney earnings
Walt Disney Company (NYSE:) is expected to report earnings of 59 cents on revenue of $21.4 billion, and analysts will be closely following what it says about streaming subscribers and its new ad-supported streaming tier.
2. Occidental earnings
Occidental Petroleum Corporation (NYSE:) is expected to report earnings of $2.68 a share on revenue of $9.4 billion.
3. Coty earnings
Coty Inc (NYSE:) is expected to report earnings of 11 cents a share on revenue of $1.4 billion.